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USD/JPY Skids After U.S. Jobs Disappoint

USD/JPY Skids After U.S. Jobs Disappoint


Open 98.14

High 98.48

Low 97.15

Close 98.10On Tuesday the USD/JPY increased with 70 pips. The currency couple appreciated from 97.79 to 98.48 yesterday, matching the positive money flow sentiment at around +14%, closing the day at 98.10. This morning the Dollar plummeted against the yen, dropping to 97.15.On the 1 hour chart the downward channel has turned into range trading, while on the 3 hour chart trading is held within wide trading scope. Break above yesterday’s top and nearest resistance 98.48 would encourage further recovery of the dollar. Immediate support is today’s bottom at 97.15, and consistent break below it could strengthen the Yen further down towards next target 96.24.Today is Japan Foreign investment at 23:50 GMT.Quotes are moving way below the 20 and 50 EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is negative and hesitant, the MACD is thinly hesitant and tranquil, while the CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.

Technical resistance levels: 98.48 99.37 100.20

Technical support levels: 97.15 96.24 95.42Today so far +33 pips profit/loss on USD/JPY today from the following sent to clients only signal:5:15 GMT Sell USD/JPY at 97.48 SL 97.74 TP 96.98, exit sent at 9:16 GMT.

Today so far +116, yesterday +23.

USD/JPY Hour Chart” title=”USD/JPY Hour Chart” width=”640″ height=”540″ src=”” />

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