Open 103.24
High 103.40
Low 102.88
Close 103.23
On Monday the USD/JPY increased insignificantly with 45 pips. The currency couple depreciated from 102.88 to 103.35 yesterday, matching the positive money flow sentiment at around +8%, closing the day at 103.23. This morning the dollar climbed slightly further against the Yen, reaching 103.40.
On the 1 hour chart the upward channel is trying to resume, while on the 3 hour chart the upward channel looks good. Break above today's top and nearest resistance 103.40 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 102.88, and consistent break below it could strengthen the yen further down towards next target 102.00.
Today are Japan Machinery orders and Corporate goods price index, both at 23:50 GMT.
Quotes are moving just below the 20 and above the 50 EMA on the 1 hour chart, indicating short term slim bearish and medium term bullish pressure. The value of the RSI indicator is neutral and hesitant, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 103.40 104.30 105.11
Technical support levels: 102.88 102.00 101.17
Today so far +14 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT Buy USD/JPY at 103.25 SL 102.99 TP 103.75, exit sent at 6:48 GMT.
Today so far +36, yesterday +105, as shown at our web site. Have a great day!
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