08 January 2010

USD/JPY : Testing DownTLs

  • Have not looked at this closely for long time given impression of trading within a broad range. But recent chart developments making this interesting now.
  • Last 93.33.
  • Monthly : DownTL at 93.66 about to be put to test.
  • Weekly : DownTL at 93.28 being tested.
  • Daily : Series of higher highs and higher lows evident (also on weekly).
  • Plan : Perhaps I should shift some firepower for long USD trades away from EUR and GBP into USD/JPY soon, without increasing overall exposure too much.
  • [Addendum : Long at 93.20 and 92.40]

No comments: