On Tuesday Dollar/Yen traded within 125 pip range. The currency couple appreciated from 96.93 to 98.18 yesterday, matching the positive money flow sentiment at around +24%, closing the day at 97.73. This morning the Dollar pushed slightly further up against the Yen, reaching 98.24.
On the 1 hour chart the downward channel is turning into range trading, while on the 3 hour chart quotes are held within wide range trading. Break above today's top and nearest resistance 98.24 would encourage further recovery of the Dollar. Immediate support is today's bottom at 96.93, and consistent break below it could strengthen the Yen further down towards next target 96.05.
There are no major economic events for Japan today.
Quotes are moving just below the crossing and close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 98.24 99.12 99.90
Technical support levels: 96.93 96.05 95.30
Today so far +31 pips profit/loss on USD/JPY today from the following sent to clients only signal:
6:35 GMT+1 Sell USD/JPY at 97.65 SL 97.91 TP 97.15, exit sent at 7:09 GMT+1.
Today so far +138, yesterday +105, as shown at our web site. Have a great day!
USD/JPY Chart" title="USD/JPY Chart">