USDJPY
Even if the Yen wins reprieve as oil prices retreat from highs we expect to see a rise of the dollar
testing the 38.2% retracement in the next 24 hours. As we can see on the chart, the 200 EMA (blue) seem to
go up slowly. Having about 24 hours of MACD below 0 we expect to see a reverse.
Trading strategy for today:
Long: entry @110.75/80, exit @111.25, stop loss @110.40/50.
We still stand on a fragile ground, hold the long position carefully.
If possible, set a trailing stop for a 20/30 pips and even go above 111.25 for 111.60/70 if target hit.
Chart of the day:
EURUSD
Trading strategy:
Short: entry @1.2345, exit @1.2315, stop loss @1.2370.
Reverse for long with entry @1.2305, exit @1.2330, stop loss @1.2290.
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