USD/JPY Open 87.16 High 87.21 Low 86.36 Close 86.92
Dollar/Yen resumed increasing on Thursday, in converse with the negative Interbank sentiment at around -4%. The currency couple appreciated from 86.36 to 87.18 yesterday, closing the day at 86.92. This morning bullish efforts are renewed. On the 1 hour chart the downward channel is on hold, and on the 3 hour chart quotes are trying to return into it. Break above today’s top and nearest resistance 87.21 would support further recovery of the Dollar. Immediate support is yesterday’s bottom at 86.36, and consistent break bellow it could strengthen the Yen further down towards next target 85.50. 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 pressure. The value of the RSI indicator is positive and climbing, MACD is neutral and calm, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 87.21 88.39 89.10
Technical support levels: 86.36 85.50 84.12
Trading range: 87.25 – 86.60
Sell at 87.14 SL 87.44 TP 86.74
Written by iFOREX.bg