USD/JPY Open 90.12 High 90.68 Low 89.24 Close 89.94
Dollar/Yen traded hesitantly and within a range on Friday, in converse the Interbank sentiment at nearly -31%. The currency couple was moving within the 89.24 – 90.46 scope, closing the week at 89.94. Today the pair is trading still quietly, with unconvincing climbing efforts. Break above the nearest 90.68 resistance and today’s peak would support further recovery of the Dollar. Immediate support is Friday’s bottom at 90.68, and consistent break bellow it could strengthen the Yen further towards next objective 88.27. Today was Japan BoJ monthly economic report, already passed at 5 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating slight bullish pressure. The value of the RSI indicator is positive and declining, MACD is neutral and calm, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.We will, however, try to take advantage of the range trading and suggest sell on high.
Technical resistance levels: 90.68 91.87 92.81
Technical support levels: 89.24 88.27 87.58
Trading range: 90.45 – 89.80
Sell at 90.34 SL 90.64 TP 89.94
Written by iFOREX.bg