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Currencies: Technical Strategies
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Yen Ranges Against US Dollar
Fri, Sep 19 2008, 01:19 GMT
by Andrei Pehar
The recent turmoil in the financial markets left many currency traders unsure of the next direction. This can perhaps best be seen in the recent price action of the USD/JPY pair, which is experiencing high volatility and a daily range with support at 104.13 and resistance about to be tested again at 106.73
If price can break above 106.73 then hold that level as support, we could see a move up with the next targets at 107.48 and 108.09; if not, then a bounce would likely bring us down to support at 105.52, 104.60, and perhaps ultimately again 104.13
Published on Fri, Sep 19 2008, 01:29 GMT
Archive
- Has the Aussie Found Bottom?
Published On Wed, Oct 22 2008, 20:29 GMT - Next Levels to Watch for the EUR/USD
Published On Wed, Oct 8 2008, 21:08 GMT - How to Catch the Next EUR/USD Move
Published On Thu, Sep 25 2008, 12:16 GMT - Yen Ranges Against US Dollar
Published On Fri, Sep 19 2008, 01:19 GMT - Projected Bottom for the GBP/JPY
Published On Wed, Sep 10 2008, 13:48 GMT
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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.
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