On Monday Dollar/Yen decreased with 95 pips. The currency couple depreciated from 99.89 to 98.96 yesterday, not matching the positive money flow sentiment at around +17%, closing the day at 99.20. This morning the Dollar descended further against the Yen, reaching down to 98.51.
The upward channel is still on hold on the 1 hour chart, while the upward channel is looking good on the 3 hour chart. Break above yesterday's top and nearest resistance 99.89 would encourage further recovery of the dollar. Immediate support is today's bottom at 98.51. A consistent break below it could strengthen the Yen further down towards next target 97.62.
There are no major economic events for Japan today.
Quotes are moving bellow the crossing 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm. MACD is positive and declining, while the CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 99.89 100.77 101.60
Technical support levels: 98.51 97.62 96.80
Today so far +23 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Sell USD/JPY at 98.74 SL 99.00 TP 98.24, exit sent at 8:45 GMT+1.
Today so far +150, yesterday +48, as shown at our web site. Have a great day!
USD/JPY Chart" title="USD/JPY Chart">
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USD/JPY Recoils From 100 Again
Published 04/23/2013, 05:30 AM
Updated 01/01/2017, 02:20 AM
USD/JPY Recoils From 100 Again
ZIFX.com
USD/JPY Open 99.32 High 99.89 Low 98.51 Close 99.20
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