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USD/JPY Neutral Movements Continue

Published 01/12/2012, 05:45 AM
Updated 01/01/2017, 02:20 AM
USD/JPY
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USD/JPY Open 76.86 High 77.05 Low 76.82 Close 76.84

On Wednesday USD/JPY continued trading within very narrow 20 pip range. The currency couple depreciated from 77.05 to 76.83 yesterday, matching the neutral Interbank sentiment at over +2%, closing the day at 76.84. This morning the Dollar weakened slightly further against the Yen, reaching 76.82. On the 1 hour chart new range trading has formed, while on the 3 hour chart quotes are held within wider trading range. Break above yesterday's top and nearest resistance 77.05 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.82, and consistent break bellow it could strengthen the Yen further down towards next target 76.00. Today is Japan M2+CDs money supply at 23:50 GMT. Quotes are moving just above the even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, MACD is neutral and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 77.05 77.90 78.76
Technical support levels: 76.82 76.00 75.12

Trading range: 77.05 - 76.40
Trend: Downward
Sell at 76.93 SL 77.23 TP 76.53


Already made +13 pips profit on USD/JPY today from the following sent to clients only signal:
5:20 GMT Buy USD/JPY at 76.85 SL 76.59 TP 77.35, exit sent at 8:01 GMT+1.
Total today +98, yesterday +127, as shown in details at our web site.

 ZIFX.com <span class=USD/JPY Chart" title="ZIFX.com USDJPY Chart">

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