mercoledì 16 aprile 2014

Dollar/Yen Up On Japan Pensions Fund Action

USD/JPY Open 101.82 High 102.36 Low 101.41 Close 101.89

On Tuesday Dollar/Yen traded within 50 pip range. The currency couple depreciated from 102.00 to 101.49 yesterday, matching the negative money flow sentiment at under -11%, closing the day at 101.89. This morning the Dollar lifted against the Yen, reaching up to 102.36.

On the 1 hour chart quotes are held within trading range, while on the 3 hour chart wider trading scope has formed. Break above today’s top and nearest resistance 102.36 would encourage further recovery of the Dollar. Immediate support is yesterday’s bottom at 101.41, and consistent break below it could strengthen the Yen further down towards next target 100.54.

Today was Japan Industrial production, at 4:30 GMT.

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

Technical resistance levels: 102.36 103.24 104.06

Technical support levels: 101.41 100.54 99.70

Today so far +19 pips profit/loss on USD/JPY today from the following sent to clients only signal:

5:15 GMT+1 Buy USD/JPY at 102.15 SL 101.89 TP 102.65, exit sent at 9:54 GMT+1.

Today so far +97, yesterday +95, as shown ;here. Have a great day!

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