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Intraday commentary on patterns

USDJPY Morning Star (Doji) 4-Hour Chart

Mon, Jul 23 2012, 14:00 GMT
by Mark De La Paz | FX Instructor

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Resistance: 78.40 moderate/78.62 strong/78.81 moderate

Support: 78.21 minor/77.99 minor

We have a high level bullish reversal pattern, Morning Star (Doji) in 4-Hour USDJPY charts. With prices just above a minor support we risk a technical correction for 78.40 a moderate resistance break of which opens up 78.62, the Pivot Point. Consider buys at market with stops just below 78.21 or the patterns low.

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

Published On Mon, Jul 23 2012, 14:02 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 Morning Star (Doji) 4-Hour Chart

Daily Live Trading Room

Mark De La Paz

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Legal disclaimer and risk disclosure

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