Main » 2012 » January » 27 » Forex Strategy - Intraday outlook for GBP / JPY on 27/01/2012
16:39 Forex Strategy - Intraday outlook for GBP / JPY on 27/01/2012 | |
| The pair GBP / JPY on the hourly chart is trading within a neutral trend. It shows that the rate of GBP / JPY is trading below the moving average with a period of 55 on the hourly chart (121.57 level), which generally contributes to lower prices in the short term. I recommend to open long positions after the breakdown of the results of hours of resistance at 121.91 in order to increase the resistance level at 122.33 in the event of breakdown up to 122.74 hours. Stoploss for this strategy can be placed at 121.40. I recommend to open short positions after the breakdown of the results of hours of support at 120.83 in order to reduce to the support at 120.49 and in case of breakdown to 120.11. Stoploss for this strategy can be placed at 121.27. 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. Alex Sedyshev, a portal "Forex Analysis" - signals, forecasts
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