USD/JPY Vulnerable As FED Favours Weak Dollar

On Friday Dollar/Yen decreased significantly with almost 130 pips. The currency couple depreciated from 81.45 to 80.17 on Friday, matching the negative Interbank sentiment at under -22%, closing the week at 80.23. This morning the Dollar weakened further against the Yen, descending down to 80.07.

On the 1 hour chart quotes broke down of the trading range, while on the 3 hour chart quotes are still moving within the wide trading range. Break above Friday's top and nearest resistance 81.45 would encourage further recovery of the Dollar. Immediate support is today's bottom at 80.07, and consistent break bellow it could strengthen the Yen further down towards next target 79.22.

Today is Japan Day of the Nature.

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

Technical resistance levels: 81.45 82.37 83.22

Technical support levels: 80.07 79.22 78.40

Total today +10 pips profit on USD/JPY today from the following sent to clients only signal:

5:19 GMT+1 Sell USD/JPY at 80.18 SL 80.44 TP 79.68, exit sent at 6:26 GMT+1.

Total today +66, on Friday +76, as shown in details at http://www.zifx.com/performance-past.php.