On Thursday Dollar/Yen resumed increasing with 100 pips. The currency couple appreciated from 97.54 to 98.58 yesterday, matching the positive money flow sentiment at over +19%, closing the day at 98.32. This morning the Dollar pushed further up against the Yen, reaching 99.09.
On the 1 hour chart the downward channel has turned into range trading, while on the 3 hour chart quotes are held within wide range trading. Break above today's top and nearest resistance 99.09 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 97.54, and consistent break below it could strengthen the Yen further down towards next target 96.65.
Today were Japan Housing starts, Construction orders, both at 5 and 23:50 GMT.
Quotes are moving above the widened (for clear trend) 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 99.09 100.00 100.81
Technical support levels: 97.54 96.65 95.86
Today so far +24 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 98.85 SL 98.59 TP 99.35, exit sent at 10:19 GMT+1.
Today so far +129, yesterday +175, as shown at our web site. Have a great weekend!
USD/JPY Chart" title="USD/JPY Chart">