Main » 2012 » January » 5 » Forex Signals - intraday strategy on USD / JPY 05/01/2012
17:16 Forex Signals - intraday strategy on USD / JPY 05/01/2012 | |
| USD / JPY pair is trading on the hourly chart within a neutral trend. It shows that the rate of USD / JPY is trading above the moving average with a period of 55 on the hourly chart (level 76.75), 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 76.87 in order to increase the resistance level at 77.03 and in case of breakdown to 77.21. Stoploss for this strategy can be placed at 76.55. I recommend to open short positions after the breakdown of the results of hours of support at 76.60 in order to reduce to support at 76.37 in the event of breakdown to 76.16. Stoploss for this strategy can be placed at 76.95. 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 a strong movement in the breakout 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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