The Advisor Weblog

Follow the markets with Valeria Bednarik, Chief Analyst of the FXstreet.com Independent Analyst Team

Or subscribe via email:

FXstreet.com Weblogs

Links

Money and Markets

Usd/Jpy levels

Posted on March 31, 2009 at 12:35 in Short-Term Analysis by Valeria Bednarik

Usd/Jpy continues pushing higher and giving signals for further gains in 4 hours charts. The pair has an important congestion zone around 98.70/85, formed both by maximums and a descendant trend line, yet indicators point for further upside continuation, with momentum and CCI cutting their medium lines and still strong. A confirmation above the mentioned level, could send the pair to test this year high at 99.67, followed by 100.00 key level, and above 100.60, stronger resistance that should contain the pair in the first attempt. Failure to break above mentioned 98.70/85 zone, could send the pair back to the downside, although losses should be limited. Supports lie at 98.10, 97.70 zone and 97.38.

Tags: usdjpy

Comments are closed.

Theme by Forex Street Powered by Wordpress

The comments and posts published in this blog ARE NOT trading recommendations. They can NEVER be considered as trading calls or advices. If you decide to use the information offered here for your real trading it is at your own risk.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.