USD/JPY 89.91 – 1 October 2009

USD/JPY Open 90.09 High 90.16 Low 89.37 Close 89.68
On Wednesday Dollar/Yen made a moderate decreasing momentum, reaching a bottom at 89.37, where the bearish impulse was limited, and the currency couple started rising, closing the day at 89.68. On the 3 hour chart the upward triangular formation provides a potential threat to the bearish outlook. However, it is not sure yet whether the formation will lead to a correction or a total turn around. Strong and important resistance is represented by today’s top at 90.15. Break above this level may trigger stronger bullish impulse towards 91.35. The nearest support is yesterday’s bottom 89.35. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting upward pressure.
Technical resistance levels: 90.15 91.35 92.55
Technical support levels: 89.35 88.45 87.50

Trading range: 89.80 – 90.45
Trend: Upward
Buy at 89.91 SL 89.61 TP 90.31

Already made +1 pips profit on USD/JPY today from the following signal:
5:34 GMT+1 Sell USD/JPY at 89.92 SL 90.18 TP 89.42 exited at 5:36 GMT.
Total today +135, yesterday +107, as shown in details here.


Disclaimer: Please note that our technical analysis is not daily/evening forecast, neither a trading signal. Therefore the expectations shown here may differ from our forecasts and signals, to give readers different point of view.

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