USD/JPY Crosses 103, Bounces Off

USD/JPY Open 102.80 High 103.31 Low 102.07 Close 103.18On Friday Dollar/Yen resumed increasing with 125 pips. The currency couple appreciated from 102.07 to 103.31 on Friday, matching the positive money flow sentiment at over +21%, closing the week at 103.18. This morning the Dollar shook against the Yen, with movements still within Friday’s range for now.On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart the upward channel is intact. Break above Friday’s top and nearest resistance 103.31 would encourage further recovery of the Dollar. Immediate support is Friday’s bottom at 102.07, and consistent break bellow it could strengthen the Yen further down towards next target 101.16.There are no major economic events for Japan today.Quotes are moving just below the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and calm, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral signals.Technical resistance levels: 103.31 104.20 105.00Technical support levels: 102.07 101.16 100.35Today so far +7 pips profit/loss on USD/JPY today from the following sent to clients only signal:5:15 GMT+1 Buy USD/JPY at 102.69 SL 102.43 TP 103.19, exit sent at 7:00 GMT+1.Today so far +50, on Friday +156, as shown at our web site. Have a great day!

USD/JPY Chart” title=”USD/JPY Chart” />

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