USD/JPY Open 90.33 High 90.47 Low 89.31 Close 90.22
Dollar/Yen traded with a decline at first on Tuesday, in line the Interbank sentiment at around -30%, than recorded recovery. The currency couple depreciated down to 89.31, than rose up to 90.47 yesterday, closing the day at 90.22. Today the pair is moving very quietly so far. Break above yesterday’s peak and nearest 90.47 resistance would support further recovery of the Dollar. Immediate support is yesterday’s bottom at 89.31, and consistent break bellow it could strengthen the Yen further towards next objective 88.27. Today is Japan Trade balance at 23:50 GMT. Quotes are moving in line with the 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is positive and declining, MACD is neutral and calm, while CCI is just above the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 90.47 91.87 92.81
Technical support levels: 89.31 88.27 87.58
Trading range: 90.45 – 89.80
Sell at 90.34 SL 90.64 TP 89.94
Written by iFOREX.bg