USD/JPY Open 91.94 High 92.96 Low 91.60 Close 92.09
Dollar/Yen traded with a decline at the end of last week, in line with the Interbank sentiment at nearly -20%. On Friday the currency couple dropped from 92.96 to 91.96, closing the week at 92.09. Break above the nearest 92.96 resistance and Friday’s top would support further bullish perspective. The medium term trend is turning into bearish as the downward impulse is gaining momentum on the 1 hour chart. Immediate support is today’s bottom at 91.60, and consistent break bellow it would strengthen the Yen further. Today’s focus is on the Tertiary activity index for Japan at 23:50 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is positive and quiet, while MACD and CCI are neutral and dovish on the 1 hour chart, giving overall mild short signals.
Technical resistance levels: 92.96 93.64 94.72
Technical support levels: 91.60 90.71 89.86
Trading range: 92.10 – 91.50
Sell at 92.00 SL 92.30 TP 91.60
Written by iFOREX.bg