USD/JPY Open 94.13 High 94.35 Low 93.34 Close 93.88
Dollar resumed appreciating against the Yen on Friday, in converse with the Interbank sentiment at nearly -30%. On Friday the currency couple climbed from 93.34 to 94.28, closing the week at 93.88. Break above the nearest 94.35 resistance and today’s top would support further bullish perspective. The medium term trend is now back to bullish as the upward channel on the 1 hour chart remains intact for now. Immediate support is Friday’s bottom at 93.34, and consistent break bellow it could strengthen the Yen further towards next target 92.74. There are no major economic events for Japan today. Quotes are moving just just bellow the 20 and above the 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and rising, MACD is positive and declining, while CCI is negative and calm on the 1 hour chart, giving overall mixed signals.
Technical resistance levels: 94.35 95.00 95.89
Technical support levels: 93.34 92.74 91.60
Trading range: 93.85 – 94.50
Buy at 93.98 SL 93.68 TP 94.38
Written by iFOREX.bg