On Tuesday USD/JPY traded within narrow almost 30 pip range. The currency couple appreciated from 82.30 to 82.58 yesterday, matching the neutral money flow sentiment at around -9%, closing the day at 82.50. This morning the dollar pushed further up against the yen, climbing to 82.94.
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 today's top and nearest resistance 82.94 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 82.30, and consistent break below it could strengthen the yen further down towards next target 81.40.
There are no major economic events for Japan today.
Quotes are moving above the close 20 and 50 EMA on the 1-hour chart, indicating 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 long signals.
Technical resistance levels: 82.94 83.80 84.64
Technical support levels: 82.30 81.40 80.56
USD/JPY Chart" title="USD/JPY Chart">