Technical Analysis Daily: USD/JPY

Daily Forex Technicals | Written by iFOREX.bg | Nov 06 08 11:52 GMT |

USD/JPY 97.65 - 6 November USD/JPY Open 98.20 High 100.52 Low 98.25 Close 99.76 Yesterday the Dollar/Yen lost its positive momentum and started descending. Couple reached the bottom of 97.86 and closed the day slightly up at 97.94. The ascending channel on the one and four hour chart was broken downwards. This fact makes the model for today descending with mixed signals. First level of support is 97.30. Immediate resistance is seen at 98.45 followed by 99.00. The CCI indicator is in the neutral zone to the daily chart. Technical resistance levels: 98.45 99.00 100.50 Technical support levels: 98.25 97.30 96.15 Trading range: 97.55 - 98.15 Trend: Upward Buy at 97.65 SL 97.35 TP 98.05 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com