On Thursday Dollar/Yen continued trading within 85 pip range. The currency couple depreciated from 102.69 to 101.82 yesterday, not matching the positive money flow sentiment at around +14%, closing the day at 102.21. This morning the Dollar is trading quietly against the Yen, with movements at the upper end yesterday's range for now.
On the 1 hour chart the upward channel has resumed, while on the 3 hour chart the upward channel is intact. Break above yesterday's top and nearest resistance 102.69 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 101.82, and consistent break bellow it could strengthen the Yen further down towards next target 100.93.
There are no major economic events for Japan today.
Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 102.69 103.58 104.40
Technical support levels: 101.82 100.93 100.12
Today so far +37 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 102.27 SL 102.01 TP 102.77, exit sent at 9:29 GMT+1.
Today so far +105, yesterday +144, as shown at our web site. Have a great weekend!