Technical Analysis Daily: USD/JPY

USD/JPY 93.38

USD/JPY Open 93.22 High 94.60 Low 92.84 Close 93.42

Yesterday Dollar/Yen tried testing higher levels than Monday. A top was reached at 94.60, but as the currency couple did not find sufficient support, it closed at 93.42. Short term resistance levels are 94.00, followed by yesterday's top 94.65. Break of those levels may lead to a test of 95.45. Immediate support levels are represented by the levels 91.85 and 90.00. The CCI indicator is in the overbought zone on the four hour chart, indicating a potential downward pressure in the short term.

Technical resistance levels: 94.00 95.65 95.45
Technical support levels: 91.85 90.00 89.10

Trading range: 93.50 - 92.85

Trend: Downward

Sell at 93.38 SL 93.68 TP 92.98

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