On Friday, the USD/JPY decreased significantly with 170 pip range. The currency couple depreciated from 95.68 to 93.97 on Friday, matching the negative money flow sentiment below -31%, closing the week at 94.03. The Dollar is trading quietly against the Yen this morning, with movements at the upper half of Friday's range for now.
The downward channel has slowed down on the 1 hour chart, while wide range trading has formed on the 3 hour chart. A break above Friday's top and nearest resistance 95.68 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 93.97, and a consistent break below could strengthen the Yen further down towards the next targetof 93.08.
There are no major economic events for Japan today.
Quotes are moving above the 20 and just bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term slim bearish pressure. The value of the RSI indicator is positive and hesitant The MACD is negative and tranquil, while the CCI has crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 95.68 96.56 97.35
Technical support levels: 93.97 93.08 92.30
Today so far +36 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 94.77 SL 94.51 TP 95.27, exit sent at 8:02 GMT+1.
Today so far +73, on Friday +102, as shown at our web site. Have a great day!
USD/JPY Chart" title="USD/JPY Chart">