On Wednesday, the USD/JPY continued increasing significantly within the 220 pip range. The currency couple appreciated from 94.81 to 97.03 yesterday, matching the positive money flow sentiment at nearly +25% to close the day at 96.39. The Dollar lifted further against the Yen this morning, reaching 98.29.
The downward channel is on hold on the 1 hour chart, while wide range trading has formed on the 3 hour chart. A break above today's top and nearest resistance 98.29 could encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 94.81. A consistent break below could strengthen the Yen further down towards the next target of 93.92.
There are no major economic events for Japan today.
Quotes are moving above the widened 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant. The MACD is positive and inclining upwards, while the CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 98.29 99.18 100.00
Technical support levels: 94.81 93.92 93.10
Today so far +50 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 97.03 SL 96.77 TP 97.53, TP reached at 7:56 GMT+1.
Today so far +180, yesterday +80, as shown at our web site. Have a great day!
USD/JPY Chart" title="USD/JPY Chart">
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USD/JPY Climbs Over 98 On China Fears And Fed Plan
Published 06/20/2013, 05:24 AM
Updated 01/01/2017, 02:20 AM
USD/JPY Climbs Over 98 On China Fears And Fed Plan
USD/JPY Open 96.57 High 98.29 Low 94.81 Close 96.39
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