Thursday, May 10, 2012

USDJPY Short Term Opportunity

Current Market Outlook - Struck within key support and resistance

USDJPY appears to be ranging with multiple levels of support 79.358. However, we prefer going with the trend and selling at resistance following the current trend.

The key level of resistance would be 80.139 and 80.285 and we would be looking to sell upon retracement.

We are awaiting for price to hit one of the key resistance and await for a valid trigger. No trigger, no trade.

May the odds ever be in your favor

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