Main » 2010 » May » 7 » Forex Signals - Intraday Strategy for GBP / JPY 07/05/10
16:50 Forex Signals - Intraday Strategy for GBP / JPY 07/05/10 | |
| Pair GBP / JPY on the hourly chart is traded under the uptrend. It shows that the rate of GBP / JPY is trading below the moving average with period 55 per hour schedule (level 139.94), 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 135.98 with a view to increasing the resistance at 136.26 and if it is the breakdown on the basis of hours to 136.59. Stoploss if this strategy can be placed on the level of 135.40. I recommend to open short positions after the breakdown on the basis of hours of support at 135.07 with a view to reducing the level of support at 134.80 and in the case of breakdown to 134.53. Stoploss if this strategy can be placed at 135.70. Given that the moving average and the location of boundaries of technical 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 a strong movement in the breakout 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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