Printable View
This trading week was noted by the early formation of the correctional southern movement, the pair managed to break several important support levels among them 87.34 (which is now the pair has tested again but this time as the resistance) it was my point of aim to sell at least 200 of which is moving around lower limit of unconfirmed channel.
Today(9-1-13 ) pivot point are-
Resistance 3- 88.49
Resistance 2- 88.14
Resistance 1- 87.59
Pivot point- 87.24
Support 1- 86.69
Support 2- 86.34
Support 3- 85.79
http://i45.tinypic.com/k0sh2f.gif
The pair is trading below the ascending channel support. The bearish movement of the pair may continue if the remains stable below the 87.85 levels. According to my chart analysis, I prefer to selling the pair below 87.85 with targets 87.45, 87.15 then 86.80 and stoploss with four hour candle closing above 88.25.
Pullback bulls play here for now. The bulls pinbar look pullback up from that pivot 86.94. Make plan for buy OP with use SL on bellow that pivot 86.94 yes, wise idea, I see.
On the Hourly chart, price is above the 12 EMA (red) and 72 EMA (blue) indicates the trend is still up
50 RSI is above 50 indicates the trend is still up
Recommendation: BUY
Take profit: 88.52
SL: 86.86
usdjpy rises to the level 87.50
led waves of selling that has the pair usdjpy during the first hours of Asian trading session to average levels stable at area 87.00 after the U.S trading session concluded yesterday at 87.00
long positions at 86.70 with 87.00 and 87.30 as next targets
the breakout of 86.50 will call fro arebound towards 86.10
After the course, met with 200 sliding pair showed good growth and even managed to break through the sloping resistance level, course now come to another strong resistance around 87.66 which began to consolidate from him still waiting for the beginning of the fall, but my feet - a coup to buy above 87.75 .
Yesterday the pair attempted to go beyond gliding alligator but strengthened following their course failed and today left little to the north in the area of moving, is not clear - renewal is the main trend or is it all of a small correction after which it will decline, so will be a signal to sell breakdown of support 87.35, and if the couple will be able to become stronger still above 87.70, then again in the purchase.
On the 1 hour chart the movement, USDJPY has been successful through the 87.23 level and immediately wanted to approach the level of 86.85. This correction occurs due to the yen failed to survive in the area of 0% Fibo level at 87.50 and is now an initial resistance.
Spoiler: