USD/JPY Soars Ahead Of U.S. Nonfarm Payrolls
ZIFX.com | Mar 08, 2013 05:27AM ET
On Thursday Dollar/Yen continued increasing with 130 pips. The currency couple appreciated from 93.77 to 95.11 yesterday, matching the positive money flow sentiment at above +28%, closing the day at 94.78. This morning the Dollar strengthened further against the Yen, ascending to 95.61.
On the 1 hour chart the upward channel has resumed, while on the 3 hour chart the upward channel has also renewed. Break above today's top and nearest resistance 95.61 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 93.77, and consistent break bellow it could strengthen the Yen further down towards next target 92.90.
Today was Japan BoJ monthly economic report at 5 GMT.
Quotes are moving above the 20 and 50 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: 95.61 96.50 97.32
Technical support levels: 93.77 92.90 92.08
Today so far +20 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT Buy USD/JPY at 95.41 SL 95.15 TP 95.91, exit sent at 8:58 GMT.
Today so far +81, yesterday +127, as shown at our web site. Have a great weekend!
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