USD/JPY Open 77.67 High 77.75 Low 77.03 Close 77.65
On Thursday Dollar/Yen increased with 70 pips. The currency couple appreciated from 77.03 to 77.73 yesterday, matching the positive Interbank sentiment at nearly +13%, closing the day at 77.65. This morning the Dollar strengthened slightly further against the Yen, reaching 77.75. On the 1 hour chart new upward channel has formed, while on the 3 hour chart quotes returned to the wider trading range. Break above today's top and nearest resistance 77.75 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.03, and consistent break bellow it could strengthen the Yen further down towards next target 76.17. There are no major economic events for Japan today. 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 calm, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 77.75 78.60 79.44
Technical support levels: 77.03 76.17 75.31
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