Main » 2010 » August » 5 » Forex Signals - Intraday Strategy for GBP / JPY 05/08/10
16:41 Forex Signals - Intraday Strategy for GBP / JPY 05/08/10 | |
| Pair GBP / JPY on the hourly chart is traded under the downtrend is likely to jump to rising. It shows that the rate of GBP / JPY is trading below the moving average with period 55 per hour schedule (level 136.92), 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 137.18 with a view to increasing the resistance at 137.54 and if it is the breakdown on the basis of hours to 137.82. Stoploss if this strategy can be placed at 136.50. I recommend to open short positions after the breakdown on the basis of hours of support at 136.45 with a view to reducing the support level at 136.12 and in the case of breakdown to 135.83. Stoploss if this strategy can be placed at 137.18. Given that the moving average and the location of boundaries of technical figures with the passage of time moves on the hourly chart is necessary 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.
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