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USD/JPY Vulnerable Bellow 98 On U.S. Crisis

USD/JPY Vulnerable Bellow 98 On U.S. Crisis


Open 98.33

High 98.73

Low 97.47

Close 98.17On Monday the USD/JPY traded within 100 pip range. The currency couple appreciated from 97.47 to 98.48 yesterday, not matching the negative money flow sentiment at nearly -11%, closing the day at 98.17. This morning the dollar ascended slightly further against the yen, reaching 98.73, than descended.On the 1 hour chart quotes are moving within trading range, while on the 3 hour chart trading is held within wider trading scope. A break above today’s top and nearest resistance 98.73 would encourage further recovery of the dollar. Immediate support is yesterday’s bottom at 97.47, and consistent break below it could strengthen the yen further down towards next target 96.58.There are no major economic events for Japan today.Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is neutral and hesitant, the MACD is negative and tranquil, while the CCI has crossed down the 100 line on the 1 hour chart giving over all light short signals.

Technical resistance levels: 98.73 99.60 100.41

Technical support levels: 97.47 96.58 95.40Today so far +50 pips profit/loss on USD/JPY today from the following sent to clients only signal:5:17 GMT+1 Sell USD/JPY at 98.53 SL 98.79 TP 98.03, TP reached at 5:45 GMT+1.

Today so far +146, yesterday +114.

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

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