USD/JPY Still Weak After BoJ Purchase

On Thursday Dollar/Yen decreased with 75 pips. The currency couple depreciated from 81.43 to 80.66 yesterday, matching the negative Interbank sentiment at nearly -31%, closing the day at 80.97. This morning the Dollar spiked up against the Yen, climbing from 80.45 to 81.45.

On the 1 hour chart range trading continues, while on the 3 hour chart quotes are moving within wider trading range. Break above today's top and nearest resistance 81.45 would encourage further recovery of the Dollar. Immediate support is today's bottom at 80.45, and consistent break bellow it could strengthen the Yen further down towards next target 79.56.

Today were Japan BoJ meeting announcement, Housing starts, and Construction orders, at 4:30 and 5 GMT respectively.

Quotes are moving just bellow the twisted and close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is negative and descending too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.

Technical resistance levels: 81.45 82.37 83.22

Technical support levels: 80.45 79.56 78.70

Total today +50 pips profit on USD/JPY today from the following sent to clients only signal:

5:18 GMT+1 Sell USD/JPY at 81.21 SL 81.47 TP 80.71, TP reached at 7:27 GMT+1.

Total today +76, yesterday +145, as shown in details at http://www.zifx.com/performance-past.php.