USD/JPY Open 89.96 High 90.64 Low 89.82 Close 89.90
Dollar/Yen traded neutrally on Wednesday, in converse the Interbank sentiment at around -33%, than recorded recovery. The currency couple slightly depreciated from 90.64 to 89.82 yesterday, closing the day at 89.90. Today the pair is moving still within yesterday’s range. Break above yesterday’s peak and nearest 90.64 resistance would support further recovery of the Dollar. Immediate support is yesterday’s bottom at 89.82, and consistent break bellow it could strengthen the Yen further towards next objective 88.27. Today is Japan Nationwide CPI, Tokyo-area CPI, Unemployment, Household spending and Retail sales at 23:30 and the last at 23:50 GMT respectively. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and declining, MACD is neutral and calm, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 90.64 91.87 92.81
Technical support levels: 89.82 88.27 87.58
Trading range: 90.15 – 90.75
Trend: Upward
Buy at 90.25 SL 89.95 TP 90.65
Written by iFOREX.bg
