www.varchev.com

USD/JPY Correction May Be Over Good Levels For Long

USD/JPY – D1, uptrend

Price under level of support.

Correction to 23.6% Fibonacci.

Price action: Pin bar is formed on support level – signal for probable rising. It’s good to wait the current bar to close for a signal approval.

Technical Indicators:

Gold cross on 50 and 200 SMA.
Price above 50SMA.
Price above 200SMA.
DeMarker turns up below 0.3 – positive signal.

SL: 113.3

Alterntive Scenario: Break through the current levels of support could lead to deeper correction.

Trader-G.Bozhidarov


 Varchev Traders


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance