USD/JPY Slips On Worsening Ukraine Situation
ZIFX com | May 07, 2014 05:35AM ET
Open 101.68
High 102.16
Low 101.48
Close 101.67
On Tuesday the USD/JPY decreased with 65 pips. The currency couple depreciated from 102.16 to 101.48 yesterday, matching the negative money flow sentiment at around -16%, closing the day at 101.67. This morning the dollar is trading quietly against the Yen, with movements at the lower end of yesterday's range for now.
On the 1 hour chart quotes are heading for the lower limit of the trading range, while on the 3 hour chart trading is held within wider scope. Break above yesterday's top and nearest resistance 102.16 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 101.48, and consistent break below it could strengthen the Yen further down towards next target 100.60.
Today was Japan BoJ meeting minutes at 00 GMT.
Quotes are moving below the 20 and 50 the EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 102.16 103.03 103.80
Technical support levels: 101.48 100.60 99.77
Today so far +19 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Sell USD/JPY at 101.63 SL 101.89 TP 101.13, exit sent at 6:56 GMT+1.
Today so far +45, yesterday +204.
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