USD/JPY Consolidates After Yesterday's Dip

USD/JPY Open 79.85 High 80.19 Low 79.67 Close 79.81

On Monday Dollar/Yen decreased with 50 pips. The currency couple depreciated from 80.19 to 79.67 yesterday, not matching the positive money flow sentiment at above +4%, closing the day at 79.81. This morning the Dollar is trading quietly against the Yen, with movements at the lower end of yesterday's range for now.

On the 1 hour chart narrow range trading is forming, while on the 3 hour chart the downward channel is on hold. Break above yesterday's top and nearest resistance 80.19 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 79.67, and consistent break bellow it could strengthen the Yen further down towards next target 78.84.

Today are Japan Machinery orders and Tertiary activity index, both at 23:50 GMT.

Quotes are moving above the 20 and just bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term slim bearish pressure. The value of the RSI indicator is positive and declining, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all neutral to light long signals.

Technical resistance levels: 80.19 81.11 82.00
Technical support levels: 79.67 78.84 78.00

Total today +3 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:17 GMT+1 Sell USD/JPY at 79.87 SL 80.13 TP 79.37, exit sent at 5:21 GMT+1.
Total today +70, yesterday +91, as shown at http://www.zifx.com/performance-past.php.