USD/JPY 91.52 – 2 June 2010

USD/JPY Open 91.12 High 91.80 Low 90.57 Close 90.90
On Tuesday Dollar/Yen traded with noticeable increase, in converse with the Interbank sentiment at around -52%. The currency couple appreciated from 90.57 to 91.38 yesterday, closing the day at 90.90. This morning rising extended to 91.79. Break above today’s peak and nearest resistance 91.80 would support further recovery of the Dollar. Immediate support is yesterday’s bottom at 90.57, and consistent break bellow it could strengthen the Yen further towards next objective 89.62. There are no major economic events for Japan today. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and rising, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving overall good long signals.

Technical resistance levels:91.80 92.60 93.48
Technical support levels: 90.57 89.62 88.27

Trading range: 91.40 – 92.05
Trend: Upward
Buy at 91.52 SL 91.22 TP 91.92

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