Main » 2010 » September » 2 » Forex Signals - Intraday Strategy for GBP / JPY 02/09/10
16:40 Forex Signals - Intraday Strategy for GBP / JPY 02/09/10 | |
| Pair GBP / JPY on the hourly chart is traded under the downtrend. It shows that the rate of GBP / JPY is trading below the moving average with period 55 on the hourly chart (level 129.92), which generally helps to reduce prices in the short term. I recommend to open long positions after the breakdown of the results of hours of resistance at 130.56 with a view to increasing the resistance at 130.81-97 and if it is the breakdown on the basis of hours to 131.49. Stoploss if this strategy can be placed at 129.85. I recommend to open short positions after a breakdown on the basis of hours support at 129.43 (at time of publication of the article) with the aim of reducing the support level at 129.02 in the case of breakdown to 128.72. Stoploss if this strategy can be placed at 130.07. Given that the moving average and the location of the technical boundaries of figures over time is moving, it is necessary to the hourly chart to adjust their status. I also recommend to open positions up to an hour to avoid false breakouts. In the case of heavy traffic during the breakthrough technical figures, I recommend to wait for correction. The level, which was the resistance should be a strong support and it was near this level should open position in the direction of the breakdown. Analyst "Forex Analytics" Alex Sedyshev
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