On Thursday Dollar/Yen decreased tremendously with 360 pips. The currency couple depreciated from 99.48 to 95.85 yesterday, matching the negative money flow sentiment at around -39%, closing the day at 96.91. This morning the Dollar weakened further against the Yen, reaching down to 95.53.
On the 1 hour chart the downward channel has accelerated, while on the 3 hour chart the upward channel is turning into range trading. Break above yesterday's top and nearest resistance 99.48 would encourage further recovery of the Dollar. Immediate support is today's bottom at 95.53, and consistent break bellow it could strengthen the Yen further down towards next target 94.64.
Today were Japan Leading and Coincident indicators composite index, both at 5 GMT.
Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 99.48 100.36 101.18
Technical support levels: 95.53 94.64 93.83
Today so far +50 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Sell USD/JPY at 96.16 SL 96.42 TP 95.66, TP reached at 5:19 GMT+1.
Today so far +102, yesterday +197, as shown at our web site. Have a great weekend!
USD/JPY Chart" title="USD/JPY Chart">
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USD/JPY Sinks To 95.5 On Weak Dollar
Published 06/07/2013, 05:30 AM
Updated 01/01/2017, 02:20 AM
USD/JPY Sinks To 95.5 On Weak Dollar
USD/JPY Open 97.26 High 99.48 Low 95.53 Close 96.91
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