On Tuesday, the USD/JPY traded within the 75 pip range. The currency couple appreciated from 102.11 to 102.89 yesterday, matching the positive money flow sentiment at nearly +7% and closing the day at 102.42. This morning the Dollar lifted slightly further against the Yen, reaching 103.00.
The upward channel has slowed down on the 1 hour chart, while the upward channel is looking good on the 3 hour chart. Breaking above today's top and nearest resistance 103.00 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 102.11. A consistent break below it could strengthen the yen further down towards the next target of 101.20.
The BoJ press conference was held at at 3 GMT.
Quotes are moving above the close 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm. The MACD is thinly positive and tranquil, while the CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 103.00 103.91 104.70
Technical support levels: 102.11 101.20 100.40
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 102.49 SL 102.23 TP 102.99, exit sent at 9:25 GMT+1.
Today so far +151, yesterday +136, as shown at our web site. Have a great day!
USD/JPY Chart" title="USD/JPY Chart">