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Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Sunday, July 25, 2010

USD/JPY----- Is it ready to go North ??

Technically, Usd/Jpy has shown its Bottom Formation last week, and is ready for an upward Journey now.  I would not  speculate on the Currency Intervention by BOJ, but my opinion should base on Technicals Strictly.

If the present upward lift can clear the Ichimoku Cloud Top near 87.70 on H4 Chart, which is also the 50% Fibo Ext. Level, ,,then next resistance at 88.00(38.2% Fibo Ext. LEVEL) may be exposed,,, follows by  88.45 (23.8% Fibo Ext) next., then 89.10 (0.00 % Fibo Ext ) on H4 chart.



H4 USD/JPY

STRATEGY

BUY USD/JPY  near 87.35-87.40 (its 61.80% Fibo Ext) on H4 Chart

TARGET: First Target: 88.00, follows by 88.40, then 89.10  next ( 0.00% Fibo Ext) on H4
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