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Intraday commentary on patterns

USDJPY High Wave Doji (Bull) Hourly Chart

Mon, Jul 16 2012, 06:51 GMT
by Mark De La Paz | FX Instructor

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Resistance: 79.46 strong/79.75 moderate/80.23 minor

Support: 78.98 moderate/78.69 minor/78.21 minor

The Hourly USDJPY chart is in a bear market with a medium credibility High Wave Doji (Bull) suggesting we look for a turn-around. Consider buys off the immediate support 78.98, or on a bullish confirmation. A stop loss should be placed just below 78.98 while the immediate target is 79.46. A close above 79.46 will have us looking for a rally to 79.75.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices

Published On Mon, Jul 16 2012, 06:52 GMT Previous entries

Mark De La Paz

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Mark's interest in financial markets has been an ongoing affair, starting from college, where he dabbled in the local equity markets with his college fund. Finishing his BA in Public Administration, Mark remained passionate about trading, and started out working in the niche brokerage business among bank traders.

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Intraday commentary on patterns

USDJPY High Wave Doji (Bull) Hourly Chart

Daily Live Trading Room

Mark De La Paz

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Legal disclaimer and risk disclosure

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