USD/JPY Recovers Most Of Friday's Losses
USD/JPY Open 92.54 High 93.72 Low 92.16 Close 92.60
On Friday Dollar/Yen decreased with 155 pips. The currency couple depreciated from 93.72 to 92.16 on Friday, matching the negative money flow sentiment at almost -17%, closing the week at 92.60. This morning the Dollar is trading quietly against the Yen, with movements at the lower end of Friday's range for now.
On the 1 hour chart the upward channel is on hold, while on the 3 hour chart the upward channel has slowed down. Break above Friday's top and nearest resistance 93.72 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 92.16, and consistent break bellow it could strengthen the Yen further down towards next target 91.30.
Today is Japan National Foundation Day and Japan M2+CDs money supply at 23:50 GMT.
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 neutral and inclining upwards, MACD is positive and tranquil, while CCI is about to cross up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 93.72 94.60 95.41
Technical support levels: 92.16 91.30 90.48
Tue May 03, 2016 9:51 am by Andrea ForexMart
Subject: USD/JPY Open 92.54 High 93.72 Low 92.16 Close 92.60