USD/JPY Open 86.51 High 87.49 Low 86.34 Close 86.52
On Friday Dollar/Yen continued descending, in line with the negative Interbank sentiment at around -16%. The currency couple depreciated from 87.49 to 86.34 on Friday, closing the week at 86.52. Today the pair made a strong correction upwards. On the 1 and 3 hour charts the downward channels is on hold. Break above Friday’s top and nearest resistance 87.49 would support further recovery of the Dollar. Immediate support is Friday’s bottom at 86.34, and consistent break bellow it could strengthen the Yen further down towards next target 85.00. Today is Japan’s Marine Day. Quotes are moving above the 20 and in line with the 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is negative and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 87.49 88.39 89.10
Technical support levels: 86.34 85.00 84.12
Trading range: 86.90 – 87.55
Buy at 87.01 SL 86.71 TP 87.41
Written by iFOREX.bg