martedì 25 marzo 2014

U.S. Stocks Decline Encourages Yen Gains

USD/JPY Open 102.20 High 102.65 Low 102.07 Close 102.19

On Monday Dollar/Yen increased with almost 60 pips. The currency couple appreciated from 102.07 to 102.65 yesterday, matching the positive money flow sentiment at nearly +15%, closing the day at 102.19. This morning the Dollar is trading quietly against the Yen, with movements at the lower half of yesterday’s range for now.

On the 1 hour chart quotes are in the trading range, while on the 3 hour chart wider trading scope has formed. Break above yesterday’s top and nearest resistance 102.65 would encourage further recovery of the Dollar. Immediate support is yesterday’s bottom at 102.07, 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 just below the almost even 20 and 50 the EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and calm, MACD is positive and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral signals.

Technical resistance levels: 102.65 103.53 104.36

Technical support levels: 102.07 101.20 99.36

Today so far +22 pips profit/loss on USD/JPY today from the following sent to clients only signal:

5:15 GMT Sell USD/JPY at 102.34 SL 102.60 TP 101.84, exit sent at 7:59 GMT.

Today so far +79, yesterday +86, as shown ;here. Have a great day!

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