Tanalys

USD/JPY Trading Between Fibonacci Level and Moving Average

Daily Candles

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: Wrote Tuesday that “the late day low is in the vicinity of former range highs and the midpoint of the 20 day range, so this is a good place for a bounce. Expect resistance from 97.54 to 98.27. The next estimated support zone is 94.90-95.74.” With the hold, the trend must be considered higher still. A new high could also complete an ending diagonal from 90.84…then we would have a monster short opportunity.

FOREXTrading Strategy: Flat

LEVELS: 95.79 96.70 97.20 98.42 99.05 99.67

Exit mobile version