USD/JPY Surges To Almost 109 After FOMC
ZIFX com | Sep 18, 2014 05:19AM ET
USD/JPY Open 108.56 High 108.88 Low 107.12 Close 108.31
On Wednesday Dollar/Yen increased with almost 150 pips. The currency couple appreciated from 107.12 to 108.60 yesterday, matching the positive money flow sentiment at over +22%, closing the day at 108.31. This morning the Dollar lifted slightly further against the Yen, reaching 108.88.
On the 1 hour chart the upward channel has renewed, while on the 3 hour chart the upward channel is accelerating. Break above today's top and nearest resistance 108.88 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 107.12, and consistent break below it could strengthen the Yen further down towards next target 106.24.
Quotes are moving above the 20 and 50 the EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and rising, while CCI is in line with the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 108.88 109.76 110.60
Technical support levels: 107.12 106.24 105.40
Today so far +19 pips profit/loss on USD/JPY today from the following signal:
5:15 GMT+1 Buy USD/JPY at 108.69 SL 108.43 TP 109.19, exit given at 6:38 GMT+1.
Today so far +84, yesterday +107, as shown here . Have a great day!
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