USD/JPY
Open 101.41
High 101.95
Low 101.19
Close 101.44
On Monday the USD/JPY decreased with 60 pips. The currency couple depreciated from 101.81 to 101.19 yesterday, matching the negative money flow sentiment at around -10%, closing the day at 101.44. This morning the dollar strengthened against the yen, lifting to 101.95.
On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel has turned into range trading. Break above today's top and nearest resistance 101.95 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 101.19, and consistent break below it could strengthen the yen further down towards next target 100.31.
There are no major economic events for Japan today.
Quotes are moving above the closing 20 and 50 the EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is positive and hesitant, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 101.95 102.70 103.53
Technical support levels: 101.19 100.31 99.50
Today so far +31 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT Buy USD/JPY at 101.65 SL 101.39 TP 102.15, exit sent at 6:06 GMT.
Today so far +103, yesterday +66.
USD/JPY Hour Chart" title="USD/JPY Hour Chart" width="452" height="381">