giovedì 20 marzo 2014

USD/JPY Advances On U.S. Rate Rise Expectations

USD/JPY Open 102.41 High 102.69 Low 101.29 Close 102.37

On Wednesday Dollar/Yen increased with almost 140 pips. The currency couple appreciated from 101.29 to 102.69 yesterday, matching the positive money flow sentiment at over +19%, closing the day at 102.37. This morning the Dollar is trading quietly against the Yen, with movements at the upper end of yesterday’s range for now.

On the 1 hour chart quotes are back into the trading range, while on the 3 hour chart wider trading scope has formed. Break above yesterday’s top and nearest resistance 102.69 would encourage further recovery of the Dollar. Immediate support is yesterday’s bottom at 101.29, and consistent break below it could strengthen the Yen further down towards next target 100.40.

There are no major economic events for Japan today.

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

Technical resistance levels: 102.69 103.57 104.40

Technical support levels: 101.29 100.40 99.56

Today so far +21 pips profit/loss on USD/JPY today from the following sent to clients only signal:

5:15 GMT Buy USD/JPY at 102.27 SL 102.01 TP 102.77, exit sent at 10:03 GMT.

Today so far +165, yesterday +180, as shown ;here. Have a great day!

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