Main » 2010 » September » 17 » Forex Signals - intraday strategy for GBP / JPY 17/09/10
16:25 Forex Signals - intraday strategy for GBP / JPY 17/09/10 | |
| Pair GBP / JPY on the hourly chart is trading within a downtrend. It is seen that the rate of GBP / JPY is trading above the moving average with period 55 per hour schedule (level 133.78), which generally contributes to the prices in the short term. I recommend to open long positions after the breakdown of the results of hours of resistance at 134.62 with a view to increasing the resistance at 134.99-135.02 and in case of breakdown up to an hour to 135.49. Stoploss for this strategy can be placed at 133.95. I recommend to open short positions after the breakdown of the results of hours of support at 133.33 in order to reduce to the support at 132.92 in the case of its breakdown to 132.37. Stoploss for this strategy can be placed at 134.05. Given that the moving average and the location of the boundaries of technical figures over time is moving, it is necessary on the hourly chart to make adjustments of their position. I also recommend the open positions on the basis of hours, to avoid false breakouts. In the case of strong motion at the break of technical figures, I 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. Analyst "Forex Analytics" Alex Sedyshev
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