Main » 2010 » September » 17 » Forex Signals - intraday strategy USD / JPY 17/09/10
16:33 Forex Signals - intraday strategy USD / JPY 17/09/10 | |
| USD / JPY pair is traded on the hourly chart in a downtrend. It is seen that the rate of USD / JPY is trading above the moving average with a period of 55 to the hourly chart (level 85.67), 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 85.95 in order to increase the resistance at 86.13 and in case of breakdown to 86.31. Stoploss for this strategy can be placed at the level of 85.70. I recommend to open short positions after the breakdown of the results of hours of support at 85.51 in order to reduce to the support at 85.33 and in case of breakdown to 85.17. Stoploss for this strategy can be placed at the level of 85.80. 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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