Open 103.23
High 103.45
Low 102.51
Close 102.89
On Tuesday the USD/JPY continued increasing with 40 pips. The currency couple appreciated from 102.51 to 102.93 yesterday, matching the positive money flow sentiment at almost +14%, closing the day at 102.89. This morning the dollar is trading quietly against the yen, with movements at the upper end of yesterday's range for now.
On the 1 hour chart the downward channel is on hold, while on the 3 hour chart the upward channel is turning into range trading. Break above yesterday's top and nearest resistance 103.45 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 102.51, and consistent break below it could strengthen the yen further down towards next target 101.64.
Today is Japan Retail trade at 23:50 GMT.
Quotes are moving just below the close 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is neutral and declining, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 103.45 104.33 105.15
Technical support levels: 102.51 101.64 100.80
Today so far +10 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 5:37 GMT.
Today so far +58,yesterday +106.
USD/JPY Hour Chart" title="USD/JPY Hour Chart" width="452" height="381">