USD/JPY 95.51 – 4 May 2010

USD/JPY Open 94.68 High 94.98 Low 93.73 Close 94.52
Dollar appreciated insignificantly against the Yen on Monday, in converse with the Interbank sentiment at nearly -17%. Yesterday the currency couple increased from 93.73 to 94.78, closing the day at 93.52. The currency couple today made further rising efforts towards 95, but without success so far. Break above the nearest 94.98 resistance and today’s top would support further bullish perspective. Immediate support is yesterday’s bottom at 93.73, and consistent break bellow it could strengthen the Yen further towards next objective 93.03. There are no major economic events today for Japan. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating slim bullish pressure. The values of the RSI and MACD indicators are positive and declining, while CCI is negative and declining on the 1 hour chart, giving overall short signals.

Technical resistance levels: 94.98 95.73 97.00
Technical support levels: 93.73 93.03 91.66

Trading range: 95.40 – 95.05
Trend: Upward
Buy at 95.51 SL 95.21 TP 94.91

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