USD/JPY Rally Limited By Fed Tempering
ZIFX com | Jul 31, 2014 05:34AM ET
Open 102.86
High 103.10
Low 102.03
Close 102.77
On Wednesday USD/JPY increased significantly with 105 pips. The currency couple appreciated from 102.03 to 103.10 yesterday, matching the positive money flow sentiment at above +24%, closing the day at 102.77. This morning the dollar is trading quietly against the yen, with movements at the upper half of yesterday's range for now.
On the 1 hour chart quotes broke up of the trading range, while on the 3 hour chart trading is held within wider scope. Break above yesterday's top and nearest resistance 103.10 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 102.03, and consistent break below it could strengthen the yen further down towards next target 101.90.
Quotes are moving just above the widened 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 positive and inclining upwards, while CCI is in line with the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 103.10 103.98 104.82
Technical support levels: 102.03 101.90 101.06
Today so far +17 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 102.75 SL 102.49 TP 103.25, exit sent at 9:15 GMT+1.
Today so far +91, yesterday +190, as shown at our web site. Have a great day!
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