Thursday, October 3, 2013

USDJPY 131003

USDSGD is another of those currency pairs that I love and loath at the same time. 


USDJPY on the weekly is still in a triangle consolidation that is nearing the apex. Lets hope it does not extend the triangle again.


On the H4, a perfect bounce off support at 97.12, resistance is now at 98.16.

Longer term, we can see that USDJPY still on a very bullish trend, but support is at 93.54, 90.83, 84.20.
Lots of space below.

Strategy is to short below 97.12 and range trade within the triangle.

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