USD/JPY Open 91.69 High 92.11 Low 91.28 Close 91.60
Last week Dollar/Yen traded within a range and with upward incline at the end of the week, in converse with the Interbank sentiment at nearly -60%. The currency couple slightly appreciated from 91.28 to 91.75 on Friday, closing the week at 91.60. Today the increasing extended to 92.11. On the 1 hour chart the pair is consolidating, and on the 3 hour chart trading is within a wide range. Break above today’s top and nearest resistance 92.11 would support further recovery of the Dollar. Immediate support is Friday’s bottom at 91.28, and consistent break bellow it could strengthen the Yen further towards next target 90.19. Today was Japan Industrial output, already passed at 4:30 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart but with more red candles, indicating bullish pressure. The value of the RSI indicator is positive and consolidating, MACD is positive and quiet, while CCI is declining, but still holding positive on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 92.11 92.88 93.55
Technical support levels: 91.28 90.19 89.30
Trading range: 91.70 – 92.30
Trend: Upward
Buy at 91.80 SL 91.50 TP 92.20
Written by iFOREX.bg
