USD/JPY 101.60 is Key to Near Term Pattern Interpretation

| 12 december, 2013 | 0 kommentarer

Hourly

eliottWaves_usd-jpy_body_Picture_6.png, USD/JPY 101.60 is Key to Near Term Pattern Interpretation

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-One of my favorite ‘trend extension’ setups is the construction of a 3 point triangle (contracting boundaries but with just 3 legs). Such a pattern may be nearing completion now. 101.80/90 is estimated support.

-A bullish objective of 105.12 is derived by calculating the measured move from the 103.37-101.61 dip. A close from Oct 2008 remains uncovered at 105.30.

Trading Strategy: Order to go long at 101.85, stop 101.55, target 105.30.

LEVELS: 101.60 101.80/90 102.40 | 103.28 103.73 105.12

— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *