Main » 2011 » August » 23 » Forex Signals - intraday strategy on GBP / JPY 23/08/2011
16:33 Forex Signals - intraday strategy on GBP / JPY 23/08/2011 | |
| Pair GBP / JPY on the hourly chart is trading under a neutral trend. It shows that the rate of GBP / JPY is trading below the moving average with period 55 on the hourly chart (level 126.54), which generally contributes to lower prices in the short term. I recommend to open long positions after the break up hour resistance at 126.72 in order to increase the resistance at 126.93-98 in the event of breakdown up to an hour to 127.30. Stop-loss for a given strategy can be placed at 126.38. I recommend to open short positions after the break up hour support at 126.17 in order to reduce to the support at 125.90 and in case of breakdown to 125.61. Stop-loss for a given strategy can be placed at 126.67. 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 heavy traffic at the break of 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. Analyst "Forex Analytics" Alex Sedyshev
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