USD/JPY Open 79.77 High 80.40 Low 79.63 Close 79.80
On Friday Dollar/Yen decreased with 65 pips. The currency couple depreciated from 80.40 to 79.73 on Friday, matching the negative Interbank sentiment at nearly -31%, closing the week at 79.80. This morning the Dollar weakened further against the Yen, reaching 79.63.
On the 1 hour chart the downward channel is making renewal attempts, while on the 3 hour chart new downward channel has formed. Break above Friday's top and nearest resistance 80.40 would encourage further recovery of the Dollar. Immediate support is today's bottom at 79.63, and consistent break bellow it could strengthen the Yen further down towards next target 78.76.
There are no major economic events for Japan today.
Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 80.40 82.47 83.30
Technical support levels: 79.63 78.76 77.90
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