USD/JPY Renews Downtrend, Breaking Bellow 77

USD/JPY Open 78.43 High 78.80 Low 77.93 Close 78.47

On Friday Dollar/Yen decreased insignificantly with 35 pips. The currency couple depreciated from 78.80 to 78.44 on Friday, matching the negative money flow sentiment at nearly -18%, closing the week at 78.47. This morning the Dollar descended further against the Yen,dropping down to 77.93.

On the 1 hour chart new downward channel has emerged, while on the 3 hour chart the downward channel is making renewal attempts. Break above Friday's top and nearest resistance 78.80 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 77.93, and consistent break bellow it could strengthen the Yen further down towards next target 77.10.

There are no major economic events for Japan today.

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 negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.

Technical resistance levels: 78.80 79.67 80.52
Technical support levels: 77.93 77.10 76.26

Today so far +24 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:16 GMT+1 Sell USD/JPY at 78.18 SL 78.44 TP 77.68, exit sent at 7:41 GMT+1.
Today so far +132, on Friday +34, as shown at http://www.zifx.com/performance-past.php.