USD/JPY's Narrow Range Movements Continue For Now


USD/JPY Open 77.76 High 77.89 Low 77.48 Close 77.69

On Thursday Dollar/Yen traded within narrow 30 pip range. The currency couple appreciated from 77.48 to 77.81 yesterday, not matching the negative Interbank sentiment at bellow -15%, closing the day at 77.69. This morning the Dollar climbed slightly further against the Yen, reaching 77.89. On the 1 hour chart the new upward channel is making renewal attempts, while on the 3 hour chart trading is still within wide range. Break above today's top and nearest resistance 78.88 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.48, and consistent break bellow it could strengthen the Yen further down towards next target 76.62. There are no major economic events for Japan today. Quotes are moving just above the crossed and almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals. Technical resistance levels: 77.89 78.72 79.55 Technical support levels: 77.48 76.62 75.80

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Trading range: 77.70 - 78.35Trend: Upward Buy at 77.83 SL 77.53 TP 78.23

Already made +7 pips profit on USD/JPY today from the following sent to clients only signal: 5:22 GMT Sell USD/JPY at 77.82 SL 78.08 TP 77.32, exit sent at 6:33 GMT+1. Total today +109, yesterday +111, as shown in details at

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