USD/JPY Open 91.63 High 92.03 Low 91.07 Close 91.56
On Monday Dollar/Yen traded at first quietly, than with a decrease, in line with the Interbank sentiment at nearly -59%. The currency couple slightly appreciated to 92.03 yesterday, than dropped to 91.44, closing the day at 91.56. Today the descending extended to 91.07. On the 1 and 3 hour charts the pair is in a consolidation phase. Break above yesterday’s top and nearest resistance 92.03 would support further recovery of the Dollar. Immediate support is today’s bottom at 91.07, and consistent break bellow it could strengthen the Yen further towards next target 90.19. Today is Japan BoJ meeting announcement and Tertiary activity index at 3:30 and 23:50 GMT respectively. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart but with green cangles in the short term, indicating current bullish pressure. The value of the RSI indicator is positive and consolidating, MACD is negative and calm, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 92.03 92.88 93.55
Technical support levels: 91.07 90.19 89.30
Trading range: 91.05 – 91.70
Trend: Upward
Buy at 91.19 SL 90.89 TP 91.59
Written by iFOREX.bg
