$USDJPY and the boreness!!
- kevinmhughes
- December 28th, 2009
With all the excitement in the FX Market, I had to write a post….
On the 30 min chart, $USDJPY has been in a TIGHT 10 pip range since December 24th (1 false breakout). After watching this pair for a couple of years, I do believe this is the calm before the storm. Here are the levels I am watching for and have orders in place…
If the $USDJPY breaks above 91.68 & holds that level (on the daily chart):
R1 at 92.30
R2 at 94.00
a breakout below 91.04 with a hold:
S1 at 92.30
S2 at 88.01
These breakouts may not happen this week… I do believe we see some upside pressure after the New Year…
Have a great one!!
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
Tickers: $USDX, New Year, USDJPY
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Lydia Idem has been investing in equities for 16 years and trading currencies actively for 5 and a half years. Her trading style is simple and short term. With a special feel for sterling, Lydia trades almost exclusively the GBPUSD and EURGBP. You can follow Lydia on Twitter and StockTwits... (more) -
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