USD/JPY Hits Six Year High, Climbing Over 106
ZIFX com | Sep 09, 2014 05:21AM ET
USD/JPY
Open 105.98
High 106.39
Low 104.93
Close 106.00
On Monday USD/JPY increased with 115 pips. The currency couple appreciated from 104.93 to 106.10 yesterday, matching the positive money flow sentiment at over +18%, closing the day at 106.00. This morning the Dollar is trading quietly against the yen, with movements at the lower end of yesterday's range for 106.39.
On the 1 hour chart the upward channel has resumed, while on the 3 hour chart the new upward channel looks good. Break above today's top and nearest resistance 106.39 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 104.93, and consistent break below it could strengthen the yen further down towards next target 104.00.
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 crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 106.39 107.27 108.10
Technical support levels: 104.93 104.00 103.16
Today so far +15 pips profit/loss on USD/JPY today from the following signal:
5:15 GMT+1 Buy USD/JPY at 106.23 SL 105.97 TP 106.73, exit given at 8:28 GMT+1.
Today so far +50, yesterday +123, as shown at our web site. Have a great day!
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