USD/JPY Open 91.33 High 91.69 Low 90.87 Close 91.34
On Thursday Dollar/Yen traded hesitantly and within a range, in converse with the Interbank sentiment at nearly -60%. The currency couple slightly appreciated from 90.87 to 91.45 yesterday, closing the day at 91.34. Today the the increasing extended just a little higher to 91.69. On the 1 hour chart the pair is consolidating, and on the 3 hour chart trading is within a wide range. Break above yesterday’s top and nearest resistance 91.69 would support further recovery of the Dollar. Immediate support is yesterday’s bottom at 90.87, and consistent break bellow it could strengthen the Yen further towards next target 90.19. There are no major economic events for Japan today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart but with more red candles, indicating slim bullish pressure. The value of the RSI indicator is positive and consolidating, MACD is positive and quiet, while CCI is above the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 91.63 92.88 93.55
Technical support levels: 90.85 90.19 89.30
Trading range: 91.80 – 92.40
Trend: Upward
Buy at 91.90 SL 91.60 TP 92.30
Written by iFOREX.bg
