Main » 2012 » January » 26 » Forex Signals - Intraday outlook in USD / JPY on 26/01/2012
18:23 Forex Signals - Intraday outlook in USD / JPY on 26/01/2012 | |
| USD / JPY pair is trading on the hourly chart within a downtrend. It shows that the rate of USD / JPY is trading below the moving average with a period of 55 on the hourly chart (level 77.77), which generally contributes to lower prices in the short term. I recommend to open long positions after the breakdown of the results of hours of resistance at 77.84 in order to increase the resistance level at 78.03 and in case of breakdown to 78.21. Stoploss for this strategy can be placed at 77.50. I recommend to open short positions after the breakdown of the results of hours of support at 77.43 in order to reduce to support at 77.24 in the event of breakdown to 77.06. Stoploss for this strategy can be placed at 77.70. Given that the moving average and the location of the boundaries of technical figures over time, moves to the hourly chart to adjust their status. I also recommend the open position up to an hour to avoid false breakouts. In the case of a strong movement in the breakout technical figures, I would recommend to wait for the correction. That level, which was the resistance should be strongly supported and it was near this level should open position in the direction of the breakdown. Alex Sedyshev, a portal "Forex Analysis" - signals, forecasts
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