On Monday USD/JPY decreased with 50 pips. The currency couple depreciated from 82.64 to 82.11 yesterday, matching the negative money flow sentiment at almost -16%, closing the day at 82.33. This morning the dollar is trading quietly against the yen, with movements within yesterday's range for now.
On the 1-hour chart small range trading has formed, while on the 3-hour chart the upward channel is still on hold. Break above yesterday's top and nearest resistance 82.64 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 82.11, and consistent break below it could strengthen the yen further down towards next target 81.25.
Today are Japan Machinery orders, Corporate goods price, and Tertiary activity indexes, all at 23:50 GMT.
Quotes are moving just above the close 20 and 50 EMA on the 1-hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1-hour chart, giving over all light long signals.
Technical resistance levels: 82.64 83.55 84.40
Technical support levels: 82.11 81.25 80.44
USD/JPY Chart" title="USD/JPY Chart">