On Friday Dollar/Yen traded within 65 pip range. The currency couple appreciated from 82.17 to 82.83 on Friday, matching the neutral money flow sentiment at above +5%, closing the week at 82.47. This morning the Dollar weakened against the Yen, descending down to 82.12.
On the 1 hour chart small range trading has formed, while on the 3 hour chart the upward channel is still on hold. Break above Friday's top and nearest resistance 82.83 would encourage further recovery of the Dollar. Immediate support is today's bottom at 82.12, and consistent break bellow it could strengthen the Yen further down towards next target 81.25.
Today is Japan M2+CDs money supply at 23:50 GMT.
Quotes are moving bellow the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bearish and medium term neutral pressure. The value of the RSI indicator is positive and declining, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 82.83 83.70 84.52
Technical support levels: 82.12 81.25 80.44
IMOH, Clement I
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