Online Currency Trading Blog

BUY USD/JPY

BUY USD/JPY @ 85.7

Forex Trading

SL @ 84.65

TP1 @ 86.2

TP2 @ 86.9

TP3 @ 87.6

All analysis is based on the Daily  chart.

For Questions comments and further information call us at + 357.220.226.68.

Entry Level: 85.70

Tags: currency market, currency trading, forex analysis, forex market, Forex markets

Buy USD/JPY

Buy USD/JPY @ 86.60, SL @ 85.70, TP1 @ 87.20, TP2 @ 87.90, TP3 @ 88.40

Forex Trading

According to the daily chart the pair has formed a pattern and is supported at 85.90, therefore we believe it is going to make a retracement upwards.

SL is located below the support level to avoid spikes.

All analysis is based on the daily chart.

For Questions comments and further information call us at + 357.220.226.68.

Last: 86.60

Tags: daily forex analysis, forex analysis, forex market, Forex markets, system forex

Currency Trading Tip: Sell GBP/CHF

Forex Trading: Limit order 16/07/2010. Sell GBP/CHF @ 1.5970 , SL @ 1.6145 , TP1 @ 1.5875 TP2 @ 1.5810 TP3 @ 1.5740

The pair has been  trending downwards and has made a small retracement upwards.

We want to enter the main trend which is still downwards but first wait for a confirmation the trend continues.

The entrance point is located below the last bottom the pair has made on the 4 hour chart.

More aggressive traders could try and short the pair from its current location but they should be advised the retracement upwards might continue higher and a SL of above 1.6170 is recommended for such traders.

 The RSI is near 50 in neutral territory.

SL is located above the last top the pair has made yesterday and above the 100 period moving average which is likely to act as a resistance for the pair.

TP’s are located  slightly above the support levels the pair has.

All analysis is based on the 4 hours chart.

Current rate: 1.6075

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