FXstreet.com (Buenos Aires) – USD/JPY Current Price: 91.45. Pair break above the 4 hours descendant channel coming from the 97.70 highs with today opening, suggesting chances of an upside continuation keep growing stronger. Hourly indicators are pointing for further gains while, bigger time frames are losing upside momentum. Pair needs to break above 91.70 resistance area, to extend the upside movement.
“Pair remains above 20 SMA that is acting as dynamic support, and guiding current movement, turning slightly bullish,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 91.30 91.00 90.55. Resistance levels: 91.70 92.10 92.50.
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1 Response
I think using simple moving averages are one of the best ways to trade Forex. Keep up the good work. Thank you.
Posted on October 2nd, 2009 at 3:04 am
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