giovedì 24 aprile 2014

Dollar/Yen Lags, Reflecting U.S. Stocks Dip

USD/JPY Open 102.40 High 102.70 Low 102.16 Close 102.50

On Wednesday Dollar/Yen decreased with 50 pips. The currency couple depreciated from 102.70 to 102.16 yesterday, matching the negative money flow sentiment at under -11%, closing the day at 102.50. This morning the Dollar is trading quietly against the Yen, with movements at the lower half of yesterday’s range for now.

On the 1 hour chart quotes are held within trading range, while on the 3 hour chart wider trading scope has formed. Break above yesterday’s top and nearest resistance 102.70 would encourage further recovery of the Dollar. Immediate support is yesterday’s bottom at 102.16, and consistent break below it could strengthen the Yen further down towards next target 101.30.

Today are Japan National and Tokyo CPI, both at 23:30 GMT.

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

Technical resistance levels: 102.70 103.57 104.40

Technical support levels: 102.16 101.30 100.14

Today so far +2 pips profit/loss on USD/JPY today from the following sent to clients only signal:

5:15 GMT+1 Sell USD/JPY at 102.28 SL 102.54 TP 101.78, exit sent at 5:17 GMT+1.

Today so far +56, yesterday +138, as shown ;here. Have a great day!

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