Technical Analysis Daily

Daily Forex Technicals | Written by iFOREX.bg | Apr 08 09 10:25 GMT |

USD/JPY 99.95 - 8 April USD/JPY Open 100.70 High 100.82 Low 99.49 Close 100.40 Dollar/Yen also continued its downward movement yesterday. The currency couple reached a bottom at 99.87, and closed the day at 100.40. The impaired formation rising wedge implies potential descending reversal scenario of the main trend. Short term resistance is 100.90. Signals are descending with objectives towards the region of 98.90. The CCI indicator is in the overbought zone and downwards on the 4 hour chart, assuming potential downward pressure. Technical resistance levels: 100.85 102.10 103.40 Technical support levels: 98.90 98.00 96.85 Trading range: 100.05 - 99.45 Trend: Downward Sell at 99.95 SL 100.25 TP 99.55 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com