giovedì 13 marzo 2014

Yen In Favour As Safe Heaven In Ukraine Crises

USD/JPY Open 102.81 High 103.10 Low 102.40 Close 102.74

On Wednesday Dollar/Yen decreased with 55 pips. The currency couple depreciated from 103.10 to 102.54 yesterday, matching the negative money flow sentiment at below -8%, closing the day at 102.74. This morning the Dollar descended further against the Yen, reaching 102.40.

On the 1 hour chart quotes are back into the trading range, while on the 3 hour chart the upward channel turned into range trading. Break above yesterday’s top and nearest resistance 103.10 would encourage further recovery of the Dollar. Immediate support is today’s bottom at 102.40, and consistent break below it could strengthen the Yen further down towards next target 101.66.

Today are Japan BoJ meeting minutes, at 23:50 GMT.

Quotes are moving below the 20 and 50 the EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.

Technical resistance levels: 103.10 104.00 104.83

Technical support levels: 102.40 101.52 100.70

Today so far +38 pips profit/loss on USD/JPY today from the following sent to clients only signal:

5:15 GMT Sell USD/JPY at 102.78 SL 103.04 TP 102.28, exit sent at 8:29 GMT.

Today so far +125, yesterday +109, as shown ;here. Have a great day!

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