USD/JPY Pushes Further Up, Breaking 96

USD/JPY Pushes Further Up, Breaking 96

USD/JPY Open 95.92 High 96.14 Low 94.81 Close 95.98

On Wednesday Dollar/Yen resumed recovering with 130 pips. The currency couple appreciated from 94.81 to 96.14 yesterday, matching the positive money flow sentiment at almost +16%, closing the day at 95.98. This morning the Dollar is slightly shaky against the Yen, but moving still within yesterday's range for now.

On the 1 hour chart the upward channel is turning into range trading, while on the 3 hour chart the upward channel is making renewal attempts. Break above yesterday's top and nearest resistance 96.14 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 94.81, and consistent break bellow it could strengthen the Yen further down towards next target 93.91.

Today was Japan All industry index at 4:30 GMT.

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

Technical resistance levels: 96.14 97.00 97.80
Technical support levels: 94.81 93.91 93.10