Posts
However, we can consider short positions if it breaks out of the lower channel line downwards for a longer term trade. (More likely scenario).
| Straits Times Index |
Hang Seng Index |
Nikkei 225 Index |
| Click here to login to the chat room during market hours. | ||
|
| ||
| Follow @NeatTrade | ||
Friday, February 20, 2009
USD/JPY 20/02/2009
UJ is current trading in uptrend channel (green). Resistance is around 94.64 which was a recent peak in Jan 09. Likely scenario is it will retrace from the peak forming a double top. If it manages to break out of the channel above 94.64, we can consider taking long positions.
However, we can consider short positions if it breaks out of the lower channel line downwards for a longer term trade. (More likely scenario).
However, we can consider short positions if it breaks out of the lower channel line downwards for a longer term trade. (More likely scenario).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment