On Wednesday Dollar/Yen continued trading within 100 pip range. The currency couple depreciated from 98.24 to 97.22 yesterday, not matching the positive money flow sentiment at almost +15%, closing the day at 97.63. This morning the Dollar raised slightly against the Yen, reaching 98.38.
On the 1 hour chart the downward channel has turned into range trading, while on the 3 hour chart quotes are held within wide range trading. Break above today's top and nearest resistance 98.38 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 97.22, and consistent break below it could strengthen the Yen further down towards next target 96.33.
Today are Japan All industry index, Tokyo CPI, Unemployment, Industrial output, Household spending, and Retail sales, at 4:30 and 23:50 GMT respectively.
Quotes are moving above the twisted and close 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is thinly positive and tranquil too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 98.38 99.25 100.00
Technical support levels: 97.22 96.33 95.54
Today so far +42 pips profit/loss on USD/JPY today from the following sent to clients only signal:
7:04 GMT+1 Buy USD/JPY at 97.96 SL 97.70 TP 98.46, exit sent at 8:22 GMT+1.
Today so far +167, yesterday +190, as shown at our web site. Have a great day!
USD/JPY Chart" title="USD/JPY Chart">