USD/JPY Open 80.13 High 80.61 Low 79.63 Close 80.08
On Tuesday Dollar/Yen increased with almost 70 pips. The currency couple appreciated from 79.63 to 80.31 yesterday, not matching the negative Interbank sentiment at almost -36%, closing the day at 80.08. This morning the Dollar strengthened further against the Yen, ascending up to 80.61.
On the 1 hour chart new downward channel has formed, while on the 3 hour chart quotes broke down of the wide trading range. Break above today's top and nearest resistance 80.61 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 79.63, and consistent break bellow it could strengthen the Yen further down towards next target 78.80.
There are no major economic events for Japan today.
Quotes are moving just above the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is thinly positive and calm, MACD is positive and tranquil too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 81.61 82.47 83.30
Technical support levels: 79.63 78.80 78.00
Total today +35 pips profit on USD/JPY today from the following sent to clients only signal:
5:19 GMT+1 Buy USD/JPY at 80.24 SL 79.98 TP 80.74, exit sent at 8:07 GMT+1.
Total today +114, yesterday +127, as shown in details at http://www.zifx.com/performance-past.php.
Technical analysis for precious metals with major support and resistance levels and recommendations for 18-08-2009