Yen Weakens On Ukraine And Middle East Events
ZIFX com | Jul 22, 2014 05:31AM ET
Open 101.39
High 101.51
Low 101.19
Close 101.37
On Monday the USD/JPY continued increasing insignificantly with almost 25 pips. The currency couple appreciated from 101.19 to 101.44 yesterday, matching the positive money flow sentiment at over +12%, closing the day at 101.37. This morning the dollar lifted slightly further against the yen, reaching 101.51.
On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart trading is held within wide scope. Break above today's top and nearest resistance 101.51 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 101.19, and consistent break below it could strengthen the yen further down towards next target 100.32.
Quotes are moving above the crossing 20 and 50 the EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is positive and hesitant, MACD is negative and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 101.51 102.38 103.22
Technical support levels: 101.19 100.32 99.50
Today so far +11 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 101.46 SL 101.20 TP 101.96, exit sent at 7:00 GMT+1.
Today so far +114, yesterday +32.
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