Dollar/Yen Sags After U.S. Data Disappointment
USD/JPY Open 113.44 High 113.74 Low 113.10 Close 113.40
On Monday, dollar/yen climbed with 60 pips. The currency couple appreciated from 113.10 to 113.69 yesterday, matching the positive money flow sentiment at over +6%, closing the day at 113.40. This morning the dollar ascended slightly further against the yen, reaching 113.74.
On the 1-hour chart the range trading continues, while on the 3-hour chart the downward channel is still on hold. Break above today’s top and nearest resistance 113.74 would encourage further recovery of the dollar. Immediate support is yesterday’s bottom at 113.10, and consistent break below it could strengthen the yen further down towards next target 112.22.
Quotes are moving above the parallel 20 and 50 EMA on the 1-hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1-hour chart, giving over all light long signals.
Technical resistance levels: 113.74 114.65 115.50Technical support levels: 113.10 112.22 111.40
Yesterday +25 pips were gained on USD/JPY from the following signal:5:30 GMT+1 Sell USD/JPY at 113.57 SL 113.83 TP 113.07, exit given at 13:31 GMT+1.
Total yesterday +112, as shown at our web site.
Have a great day!
USD/JPY H1 Chart