On Thursday Dollar/Yen decreased significantly with 175 pips. The currency couple depreciated from 103.58 to 100.81 yesterday, matching the negative money flow sentiment at under -16%, closing the day at 101.98. This morning the Dollar is trading quietly against the Yen, with movements at the lower end of yesterday's range for now.
On the 1 hour chart the upward channel is on hold, while on the 3 hour chart the upward channel has slowed down. Break above yesterday's top and nearest resistance 103.58 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 100.81, and consistent break bellow it could strengthen the Yen further down towards next target 99.90.
There are no major economic events for Japan today.
Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 103.58 104.47 105.29
Technical support levels: 100.81 99.90 99.08
Today so far +50 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:14 GMT+1 Sell USD/JPY at 101.69 SL 101.95 TP 101.19, TP reached at 5:25 GMT+1.
Today so far +191, yesterday +120, as shown at our web site. Have a great day!
USD/JPY Chart" title="USD/JPY Chart">