Calm USD/JPY After Yesterday's Slight Descent

On Wednesday Dollar/Yen decreased with 50 pips. The currency couple depreciated from 79.94 to 79.42 yesterday, matching the negative money flow sentiment at bellow -14%, closing the day at 79.62. This morning the Dollar is trading quietly against the Yen, moving within yesterday's range for now.

On the 1 hour chart the downward channel has lowered its angle, while on the 3 hour chart the downward channel looks good. Break above yesterday's top and nearest resistance 79.94 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 79.42, and consistent break bellow it could strengthen the Yen further down towards next target 78.53.

Today is Japan M2+CDs money supply, at 23:50 GMT respectively.

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 neutral and calm, MACD is neutral and tranquil too, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.

Technical resistance levels: 79.94 80.80 81.70

Technical support levels: 79.42 78.53 77.68

Today so far +6 pips profit on USD/JPY today from the following sent to clients only signal:

5:18 GMT+1 Sell USD/JPY at 79.66 SL 79.92 TP 79.16, exit sent at 5:31 GMT+1.

Today so far +73, yesterday +72, as shown in details at http://www.zifx.com/performance-past.php.