USD/JPY At 18 Week High Ahead Of Fed
ZIFX com | Aug 20, 2014 05:26AM ET
Open 102.91
High 103.34
Low 102.51
Close 102.89
On Tuesday the USD/JPY continued increasing with 45 pips. The currency couple appreciated from 102.51 to 102.95 yesterday, matching the positive money flow sentiment at nearly +11%, closing the day at 102.89. This morning the dollar lifted slightly further against the yen, reaching 103.34.
On the 1 hour chart quotes are breaking up of the trading range, while on the 3 hour chart quotes are heading for the upper limit of the wide scope. Break above today's top and nearest resistance 103.34 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 102.51, and consistent break below it could strengthen the yen further down towards next target 101.63.
Quotes are moving above the widened 20 and 50 the EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 103.34 104.20 105.04
Technical support levels: 102.51 101.63 100.80
Today so far +20 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 103.14 SL 102.88 TP 103.64, exit sent at 8:44 GMT+1.
Today so far +68, yesterday +153.
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