On Friday Dollar/Yen traded within narrow 25 pips range. The currency couple depreciated from 78.54 to 78.28 on Friday, matching the neutral money flow sentiment at nearly +9%, closing the week at 78.42. This morning the Dollar increased against the Yen, lifting to 78.61.
On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are moving within wider range. Break above today's top and nearest resistance 78.61 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 78.28, and consistent break bellow it could strengthen the Yen further down towards next target 77.40.
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