USD/JPY At Three Week High, Touching 102
ZIFX com | Jul 29, 2014 05:22AM ET
Open 101.86
High 102.01
Low 101.74
Close 101.84
On Monday the USD/JPY traded within small 15 pip range. The currency couple appreciated from 101.74 to 101.91 yesterday, matching the positive money flow sentiment at over +10%, closing the day at 101.84. This morning the dollar ascended slightly further against the yen, reaching 102.01.
On the 1 hour chart the downward channel has turned into range trading, while on the 3 hour chart trading is held within wider scope. Break above today's top and nearest resistance 102.01 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 101.74, and consistent break below it could strengthen the yen further down towards next target 100.88.
Quotes are moving just above the 20 and 50 the EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is thinly positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 102.01 102.86 103.70
Technical support levels: 101.74 100.88 100.05
Today so far +3 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 101.96 SL 101.70 TP 102.46, exit sent at 5:25 GMT+1.
Today so far +28, yesterday +21.
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