USD/JPY Very Tranquil Around 78.6

USD/JPY Open 78.67 High 78.81 Low 78.37 Close 78.57

On Thursday Dollar/Yen traded within narrow 40 pip range. The currency couple depreciated from 78.81 to 78.37 yesterday, not matching the negative money flow sentiment at under -16%, closing the day at 78.57. This morning the Dollar is trading quietly against the Yen, with movements within yesterday's range for now.

On the 1 hour chart new downward channel is emerging, while on the 3 hour chart the downward channel is making renewal attempts. Break above yesterday's top and nearest resistance 78.81 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 78.37, and consistent break bellow it could strengthen the Yen further down towards next target 77.50.

There are no major economic events for Japan today.

Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.

Technical resistance levels: 78.81 79.67 80.52
Technical support levels: 78.37 77.50 76.64

Total today +3 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:17 GMT+1 Buy USD/JPY at 78.61 SL 78.35 TP 79.11, exit sent at 5:36 GMT+1.
Total today +34, yesterday +76, as shown at http://www.zifx.com/performance-past.php.