mercoledì 26 marzo 2014

A Week In Narrow Range For Dollar/Yen

USD/JPY Open 102.29 High 102.49 Low 102.08 Close 102.25

On Tuesday Dollar/Yen traded within 40 pip range. The currency couple appreciated from 102.08 to 102.49 yesterday, matching the positive money flow sentiment at around +15%, closing the day at 102.25. This morning the Dollar is trading quietly against the Yen, with movements within yesterday’s range for now.

On the 1 hour chart quotes are held in trading range, while on the 3 hour chart wider trading scope has formed. Break above yesterday’s top and nearest resistance 102.49 would encourage further recovery of the Dollar. Immediate support is yesterday’s bottom at 102.08, and consistent break below it could strengthen the Yen further down towards next target 101.20.

There are no major economic events for Japan today.

Quotes are moving in line with the even 20 and 50 the EMA on the 1 hour chart, indicating neutral pressure. The value of the RSI indicator is neutral and calm, MACD is thinly positive and tranquil, while CCI is in line with the the 100 line on the 1 hour chart, giving over all neutral signals.

Technical resistance levels: 102.49 103.38 104.20

Technical support levels: 102.08 101.20 99.36

Today so far +3 pips profit/loss on USD/JPY today from the following sent to clients only signal:

5:15 GMT Buy USD/JPY at 102.29 SL 102.03 TP 102.79, exit sent at 5:29 GMT.

Today so far +80, yesterday +94, as shown ;here. Have a great day!

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