16:41Forex Signals - Intraday strategy USD / JPY 20/04/10
|A pair USD / JPY traded within the range of 84.80-97.48 on the hourly chart. It shows that the rate of USD / JPY is trading above the moving average with period 55 on the hourly chart (level 92.44), 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 92.97 in order to increase the resistance at 93.14 and if it manifests itself in 93.33. Stoploss if this strategy can be placed at the level of 92.65.
I recommend to open short positions after the breakdown on the basis of hours of support at 92.83 with a view to reducing the support level at 92.70 and if it is the breakdown of 92.57. Stoploss if this strategy can be placed at the level of 93.03.
Given that the moving average and the location of boundaries of technical figures over time is moving, it is necessary to the hourly chart to adjust their status. I also recommend to open positions up to an hour to avoid false breakouts.
In the case of a strong movement in the breakout technical figures, I recommend to wait for correction. The level, which was the resistance should be a strong support and it was near this level should open position in the direction of the breakdown.
Analyst "Forex Analytics" Alex Sedyshev
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