giovedì 10 aprile 2014

Dollar/Yen At Three Week Low After Fed Meeting

USD/JPY Open 102.01 High 102.16 Low 101.62 Close 101.98

On Wednesday Dollar/Yen traded within narrow 40 pip range. The currency couple depreciated from 102.16 to 101.70 yesterday, matching the negative money flow sentiment at nearly -11%, closing the day at 101.98. This morning the Dollar weakened further against the Yen, reaching 101.62.

On the 1 hour chart quotes are held within trading range, while on the 3 hour chart wide trading scope has formed. Break above yesterday’s top and nearest resistance 102.16 would encourage further recovery of the Dollar. Immediate support is today’s bottom at 101.62, and consistent break below it could strengthen the Yen further down towards next target 100.74.

Today are Japan Corporate goods price index, M2+CDs money supply, and BoJ meeting minutes, all 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 declining, 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: 102.16 103.05 103.87

Technical support levels: 101.62 100.74 99.90

Today so far +41 pips profit/loss on USD/JPY today from the following sent to clients only signal:

5:15 GMT+1 Sell USD/JPY at 101.84 SL 102.10 TP 101.34, exit sent at 10:27 GMT+1.

Today so far +97, yesterday +96, as shown ;here. Have a great day!

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