USD/JPY Open 90.33 High 90.76 Low 90.34 Close 90.07
BoJ decides to keep interest rates low at 0.10%. Dollar/Yen is still caught in the 88.18 – 91.98 range trading on the 3 hour chart and even in narrower range on the 1 hour chart. Yesterday the currency couple decreased from 90.76 down to 89.86, in line with the negative bank sentiment at nearly -53%, closing the day at 90.07. Today the Dollar is trading quietly. Break above yesterday’s top and first resistance for today at 90.76 would confirm bull’s domination at this stage. In the medium term our expectations are neutral till we get clear break out of the above mentioned range. Immediate support is Monday’s bottom at 89.86, and only consistent break bellow it will give the Yen advance. There are no economic events for Japan today. Quotes are currently moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating calm market. The RSI, MACD and CCI indicators are all positive and inclining upwards on the 1 hour chart, giving overall long signals.
Technical resistance levels: 90.76 91.75 92.67
Technical support levels: 89.86 88.61 87.78
Trading range: 90.55 – 89.95
Trend: Downward
Sell at 90.45 SL 90.75 TP 90.05
Written by iFOREX.bg
