giovedì 6 marzo 2014

USD/JPY Climbs As Market Dismisses Weak U.S. Data

USD/JPY Open 102.35 High 102.76 Low 102.10 Close 102.29

On Wednesday Dollar/Yen increased with 45 pips. The currency couple appreciated from 102.10 to 102.56 yesterday, matching the positive money flow sentiment at around +15%, closing the day at 102.29. This morning the Dollar lifted further against the Yen, reaching 102.76.

On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel has turned into range trading. Break above today’s top and nearest resistance 102.76 would encourage further recovery of the Dollar. Immediate support is yesterday’s bottom at 102.10, and consistent break below it could strengthen the Yen further down towards next target 101.23.

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 hesitant, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 102.76 103.64 104.45

Technical support levels: 102.10 101.23 100.40

Today so far +11 pips profit/loss on USD/JPY today from the following sent to clients only signal:

5:15 GMT Buy USD/JPY at 102.71 SL 102.45 TP 103.21, exit sent at 8:07 GMT.

Today so far +44, yesterday +92, as shown ;here. Have a great day!

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