USD/JPY Open 94.01 High 94.46 Low 93.84 Close 94.02
Dollar appreciated insignificantly against the Yen on Thursday, in converse with the Interbank sentiment at around -20%. Yesterday the currency couple increased from 93.84 to 94.24, closing the day at 94.02. The currency couple today is making further climbing efforts. Break above the nearest 94.46 resistance and today’s top would support further bullish perspective. Immediate support is yesterday’s bottom at 93.84, and consistent break bellow it could strengthen the Yen further towards next objective 93.03. There are no major economic events today besides the already passed BoJ press conference at 6:30 GMT. Quotes are moving above the 20 and 50EMA on the 1 hour chart, indicating bullish pressure. The values of the RSI and MACD indicators are positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving overall bullish signals.
Technical resistance levels: 94.46 95.21 96.00
Technical support levels: 93.84 93.03 91.66
Trading range: 94.05 – 94.70
Buy at 94.16 SL 93.86 TP 94.56
Written by iFOREX.bg