Trading Idea - USD/JPY The currency pair continues its positive momentum from the recent days and recently extended its gains to settle higher by 0.18% from its opening price. Yet, the cross could not decisively break through the 103.70 resistive level which is set at the top of a rising near term bullish price channel. Most indicators of several different time frames indicate an upward trend, and as long as the pair is trading above the 103.00 major support, this momentum should continue, while a break above of 104.00 should reinforce this trend significantly. Trading idea: Long above: 103.72, Sl: 103.48, TP1: 103.97, TP2 :104.29
Posted on: Mon, 10 Mar 2014 11:46:41 +0000