USD/JPY Open 91.48 High 91.88 Low 90.95 Close 91.33
On Tuesday Dollar/Yen made a slight decline, in line with the Interbank sentiment at around -57%. The currency couple depreciated from 91.88 to 90.95 yesterday, closing the day at 91.33. Today the pair is moving hesitantly so far, without clear direction. While on the 1 hour chart the downward movement is still an adjustment, on the 3 hour chart trading is still caught within a wide range. Break above yesterday’s peak and nearest resistance 91.88 would support further recovery of the Dollar. Immediate support is yesterday’s bottom at 90.95, and consistent break bellow it could strengthen the Yen further towards next target 90.19. Today are the Japan Real GDP and Corporate goods price index at 23:50 GMT. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is negative and quiet, while CCI is is in line with the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 91.88 92.88 93.55
Technical support levels: 90.95 90.19 89.30
Trading range: 91.15 – 91.80
Trend: Upward
Buy at 91.28 SL 90.98 TP 91.68
Written by iFOREX.bg
