Yen Pressured As Syria Concerns Fade
ZIFX com | Sep 10, 2013 05:58AM ET
Open 99.66
High 100.18
Low 99.07
Close 99.54
On Monday USD/JPY increased with 100 pips. The currency couple appreciated from 99.07 to 100.11 yesterday, matching the positive money flow sentiment at over +21% and closing the day at 99.54. This morning the dollar climbed further against the yen, reaching 100.18.
On the 1 hour chart quotes are testing the upper limit of the trading range, while on the 3 hour chart trading is held within wide trading scope. A break above today's top and nearest resistance 100.18 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 99.07, and a consistent break below it could strengthen the yen further down towards the next target at 98.19.
Today is Japan Corporate goods price index at 23:50 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 neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 100.18 101.09 101.90
Technical support levels: 99.07 98.19 97.00
Today so far +31 pips profit/loss on USD/JPY signaled the following the clients:
7:29 GMT+1 Buy USD/JPY at 99.84 SL 99.58 TP 100.34, exit sent at 8:40 GMT+1.
Today so far +77, yesterday +65.
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