giovedì 27 marzo 2014

Dollar/Yen Regains After Reaching One Week Low

USD/JPY Open 101.85 High 102.50 Low 101.71 Close 102.04

On Wednesday Dollar/Yen decreased with 65 pips. The currency couple depreciated from 102.50 to 101.84 yesterday, not matching the positive money flow sentiment at almost +11%, closing the day at 102.04. This morning the Dollar weakened further against the Yen, reaching 101.71, than rose.

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 102.50 would encourage further recovery of the Dollar. Immediate support is today’s bottom at 101.71, and consistent break below it could strengthen the Yen further down towards next target 100.84.

Today are Japan National and Tokyo CPI, Household spending, Unemployment, and Retail sales, at 23:30 and 23:50 GMT respectively.

Quotes are moving just above the 20 and 50 the EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is thinly negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all neutral signals.

Technical resistance levels: 102.50 103.38 104.20

Technical support levels: 101.71 100.84 100.00

Today so far +4 pips profit/loss on USD/JPY today from the following sent to clients only signal:

5:15 GMT Buy USD/JPY at 102.22 SL 101.96 TP 102.72, exit sent at 5:22 GMT.

Today so far +134, yesterday +105, as shown ;here. Have a great day!

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