Open 102.84
High 103.43
Low 102.68
Close 102.96
On Tuesday the USD/JPY decreased with 75 pips. The currency couple depreciated from 103.43 to 102.77 yesterday, not matching the positive money flow sentiment at almost +11%, closing the day at 102.96. This morning the dollar weakened further against the Yen, dropping to 102.68.
On the 1 hour chart quotes are back into the trading range, while on the 3 hour chart the upward channel turned into range trading. Break above yesterday's top and nearest resistance 103.43 would encourage further recovery of the Dollar. Immediate support is today's bottom at 102.68, and consistent break below it could strengthen the yen further down towards next target 101.80.
Today is Japan Machinery orders, at 23:50 GMT.
Quotes are moving below the crossing 20 and 50 the EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is positive and descending, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 103.43 104.30 105.14
Technical support levels: 102.68 101.80 100.98
Today so far +26 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT Sell USD/JPY at 102.94 SL 103.20 TP 102.44, exit sent at 9:15 GMT.
Today so far +80, yesterday +102, as shown at our web site.
USD/JPY Hour Chart" title="USD/JPY Hour Chart" width="452" height="381">