On Thursday Dollar/Yen continued increasing strongly with 210 pip range. The currency couple appreciated from 96.19 to 98.29 yesterday, matching the positive money flow sentiment at almost +32%, closing the day at 97.15. This morning the Dollar is trading quietly against the Yen, with movements at the upper end of yesterday's range for now.
On the 1 hour chart new upward channel is forming, while on the 3 hour chart quotes are held within wide range trading. Break above yesterday's top and nearest resistance 98.29 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 96.19, and consistent break below it could strengthen the Yen further down towards next target 95.30.
There are no major economic events for Japan today.
Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating 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 long signals.
Technical resistance levels: 98.29 99.18 100.00
Technical support levels: 96.19 95.30 94.50
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 97.25 SL 96.99 TP 97.75, TP reached at 6:08 GMT+1.
Today so far +153, yesterday +180, as shown at our web site. Have a great day!
USD/JPY Chart" title="USD/JPY Chart">