USD/JPY Open 89.42 High 91.87 Low 89.05 Close 89.62
Dollar/Yen made a significant decrease on Thursday, in line the Interbank sentiment at around -23%. The currency couple depreciated from 91.87 down to 89.05, closing the day at 89.62. Today the pair is making further, unconvincing so far, descending efforts. Break above the nearest 91.87 resistance and yesterday’s peak would support further recovery of the Dollar. Immediate support is yesterday’s bottom at 89.05, and consistent break bellow it could strengthen the Yen further towards next objective 88.27. Today is Japan BoJ meeting announcement, Leading and Coincident indicators at 3 and 5 GMT respectively. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bearish pressure. The value of the RSI indicator is positive and climbing, MACD is positive and hesitant, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 91.87 92.81 93.51
Technical support levels: 89.05 88.27 87.58
Trading range: 90.25 – 89.65
Trend: Downward
Sell at 90.15 SL 90.45 TP 89.75
Written by iFOREX.bg
