FXstreet.com

Forex Technical Report

0

0

USDJPY Large Consolidation

Thu, Sep 25 2008, 10:50 GMT
by Forex Hound Analysis Team

ForexHound.com


USDJPY has been trading inside a range for a couple of weeks, the area is full of former support and resistance levels and lack of sway on either part of the Pacific didn't help much; we do keep an eye out for the support levels as we are trading close to the lower side of the range  but the 104.50/105 levels seem pretty far at the moment. This could be the build up to a much larger move and the bullish bias might prevail but until there are some clear signs of this happening one should trade carefully on the intra day time frames, and hopefully those trades can turn into bigger ones.

USD JPY


Archive

ForexHound.com  | #36548, PO Box 4668. New York - NY 10163-4668
http://www.forexhound.com/ | info@forexhound.com

Legal disclaimer and risk disclosure

Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.

Related reports

Fundamental Currencies Comments - The yen and dollar strengthened by ecPulse.com
Tue, Nov 24 2009, 16:03 GMT

Forex Technical Report - Stock Markets Flat to Higher Ahead of U.S. GDP Report by ForexHound.com
Tue, Nov 24 2009, 14:51 GMT

Daily Market Report - Indications that the Euro's rally could be running out of some steam by Wells Fargo Investments, LLC
Tue, Nov 24 2009, 14:47 GMT

Interest Rate Monitor - Bonds fail to make headway on latest banking crisis by Interactive Brokers LLC
Tue, Nov 24 2009, 14:36 GMT

Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Tue, Nov 24 2009, 14:35 GMT

usdjpy

View All

Related content


Interested in forex trading? forex brokerage firms!


FX Solutions LLC
Contact the broker/FDM
Open a demo account
MG Financial Group
Contact the broker/FDM
Open a demo account
IG Markets
Contact the broker/FDM
Open a demo account
Forex Capital Markets, LLC (FXCM)
Contact the broker/FDM
Open a demo account
CitiFX Pro
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.