USD/JPY Rally Extends To Almost 105
ZIFX com | Sep 02, 2014 05:24AM ET
On Monday USD/JPY increased slightly with 30 pips. The currency couple appreciated from 104.06 to 104.37 yesterday, matching the positive money flow sentiment at almost +14%, closing the day at 104.33. This morning the dollar climbed further against the yen, reaching 104.91.
On the 1 hour chart the upward channel has resumed, while on the 3 hour chart new upward channel is extending. Break above today's top and nearest resistance 104.91 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 104.06, and consistent break below it could strengthen the yen further down towards next target 103.20.
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 hesitant, 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: 104.91 105.79 106.62
Technical support levels: 104.06 103.20 102.37
Today so far +12 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 104.79 SL 104.53 TP 105.29, exit sent at 10:02 GMT+1.
Today so far +72, yesterday +46 pips.
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