USD/JPY Open 88.44 High 88.69 Low 87.66 Close 88.33
On Thursday Dollar/Yen continued increasing, matching the positive Interbank sentiment at nearly +2%. The currency couple rose from 87.66 to 88.61 yesterday, closing the day at 88.33. This morning ascending continued up to 88.69. On the 1 and 3 hour charts the downward channel was broken upwards. Break above today’s top and nearest resistance 88.69 would support further recovery of the Dollar. Immediate support is yesterday’s bottom at 87.66, and consistent break bellow it could strengthen the Yen further down towards next target 86.78. There are no major economic events for Japan today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish market. The value of the RSI indicator is positive and inclining upwards, MACD is positive and consolidating, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 88.69 89.55 90.71
Technical support levels: 87.66 86.78 86.00
Trading range: 88.30 – 88.95
Buy at 88.43 SL 88.13 TP 88.83
Written by iFOREX.bg