mercoledì 19 marzo 2014

USD/JPY Firm Ahead Of Fed Verdict

USD/JPY Open 101.44 High 101.94 Low 101.26 Close 101.41

On Tuesday Dollar/Yen decreased with almost 70 pips. The currency couple depreciated from 101.94 to 101.26 yesterday, matching the negative money flow sentiment at under -15%, closing the day at 101.41. 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 testing the lower limit of the trading range, while on the 3 hour chart wider trading scope has formed. Break above yesterday’s top and nearest resistance 101.94 would encourage further recovery of the Dollar. Immediate support is yesterday’s bottom at 101.26, and consistent break below it could strengthen the Yen further down towards next target 100.35.

There are no major economic events for Japan today.

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

Technical resistance levels: 101.94 102.82 103.65

Technical support levels: 101.26 100.35 99.50

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 101.56 SL 101.30 TP 102.06, exit sent at 8:04 GMT.

Today so far +76, yesterday +96, as shown ;here. Have a great day!

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