ZIFX.com USD/JPY Slows Uptrend Just Bellow 80

USD/JPY Open 79.93 High 80.01 Low 79.21 Close 79.92

On Monday Dollar/Yen continued increasing with 70 pips. The currency couple appreciated from 79.21 to 79.93 yesterday, matching the positive money flow sentiment at above +29%, closing the day at 79.92. This morning the Dollar climbed further against the Yen, reaching 80.01.

On the 1 hour chart the upward channel looks good, while on the 3 hour chart quotes broke up the wide trading range. Break above today's top and nearest resistance 80.01 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 79.21, and consistent break bellow it could strengthen the Yen further down towards next target 78.33.

There are no major economic events for Japan today.

Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and declining, MACD is positive and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 80.01 80.90 81.73
Technical support levels: 79.21 78.33 77.50

Today so far +13 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 79.82 SL 79.56 TP 80.32, exit sent at 6:30 GMT+1.
Today so far +44, yesterday +135, as shown at our web site.

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