USD/JPY Open 90.41 High 91.38 Low 90.23 Close 90.66
On Friday Dollar/Yen continued the main decreasing trend, in line with the Interbank sentiment at around -60%. The currency couple depreciated from 90.93 to 90.54 on Friday, closing the week at 90.66. Today trading started with volatile movements, and later the Dollar started climbing. On the 1 hour chart the pair broke down the trade range this morning, while on the 3 hour chart it is still in a consolidation phase. Break above today’s top and nearest resistance 91.38 would support further recovery of the Dollar. Immediate support is today’s bottom at 90.23, and consistent break bellow it could strengthen the Yen further towards next target 89.30. There are no major economic events for Japan today. Quotes are moving way above the 20 and bellow the 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and rising, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 91.38 92.29 93.44
Technical support levels: 90.23 89.30 88.49
Trading range: 91.00 – 91.65
Buy at 91.14 SL 90.84 TP 91.54
Written by iFOREX.bg