USD/JPY Open 91.92 High 92.93 Low 91.25 Close 92.20
Dollar/Yen traded with a decrease on Tuesday, in line the Interbank sentiment at nearly -30%. After rising to 92.93 yesterday, the currency couple resumed depreciating down to 91.90, closing the day at 92.20. Today the pair continued descending after partial adjustment. Break above the nearest 92.93 resistance and yesterday’s top would support further recovery of the Dollar. Immediate support is today’s bottom at 91.25, and consistent break bellow it could strengthen the Yen further towards next objective 90.50. Today’s focus is on Japan Real GDP Q1 at 23:50 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The values of the RSI and MACD indicators are negative and declining, while CCI is negative and calm on the 1 hour chart, giving overall short signals.
Technical resistance levels: 92.93 93.81 94.92
Technical support levels: 91.25 90.50 89.62
Trading range: 91.75 – 91.10
Trend: Downward
Sell at 91.63 SL 91.93 TP 91.23
Written by iFOREX.bg
