Added on 10.03.2004 at 19.32 GMT
USDJPY
We expect a new rally above 111 starting at the 23.6% retracement (110.10) in the next US session.
Trading strategy for today:
Long: entry @110.20, exit @110.65, stop loss @109.80.
Pay attention to the EMA indicators on the 1hr chart, they might provide a bullish signal. If confirmed, hold the long position for an exit above 111 in the next trading sessions.
EURUSD
A test of the 1.2440 resistance level is possible during the european session.
Trading strategy for today:
Long: entry @1.2390, exit @1.2430, stop loss @1.2360
Short reverse @1.2430, exit @1.2340, stop loss @1.2470
Valid until 10.04.2004 at 21 GMT
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