USD/JPY Stalls Below 109
ZIFX com | Sep 24, 2014 05:22AM ET
USD/JPY
Open 108.79
High 108.99
Low 108.23
Close 108.86
On Tuesday the USD/JPY increased with almost 65 pips. The currency couple appreciated from 108.23 to 108.99 yesterday, matching the positive money flow sentiment at above +10%, closing the day at 108.81. This morning the dollar is trading quietly against the yen, with movements within yesterday's range for now.
On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart the upward channel is intact. Break above yesterday's top and nearest resistance 108.99 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 108.23, and consistent break below it could strengthen the yen further down towards next target 107.35.
Quotes are moving just below the crossing and close 20 and 50 the EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is positive and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 108.99 109.86 110.70
Technical support levels: 108.23 107.35 106.52
Today so far +8 pips profit/loss on USD/JPY today from the following signal:
5:15 GMT+1 Sell USD/JPY at 108.57 SL 108.83 TP 108.07, exit given at 8:22 GMT+1.
Today so far +38, yesterday +105, as shown at our web site. Have a great day!
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.