Top Trade Ideas

Top Trade Idea for June 17th, 2013 – USD/JPY

By Ed Ponsi on Jun 17, 2013 02:34:38 GMT

Shorting USDJPY Again After our successful short of USDJPY, which quickly hit our targets, I’m now expecting a short-lived bounce. The main reason for this would be the minor support level that has formed in near .9400 over the past three sessions. The lows for those sessions are: 93.78, 93.97, and 94.09. Clearly, someone is [...]

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Chart of the Day for June 18th, 2013 – USD/JPY

By DailyFX on Jun 18, 2013 01:20:16 GMT

Prices declined as expected after putting in a Bearish Engulfing candlestick pattern. The pair is now showing an Inverted Hammer candle above support at 93.88, the 76.4%Fibonacciretracement, hinting a bounce may be ahead. Initial resistance is at 95.76, the 61.8% level, with a break back above that eyeing trend line support-turned-resistance at 96.21.Alternatively, a reversal beneath support exposes swing lows at 92.56 and 90.84.

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Chart of the Day for June 18th, 2013 – USD/JPY

Posted on Jun 18, 2013 01:20:16 GMT 1:20 PM by DailyFX

Prices declined as expected after putting in a Bearish Engulfing candlestick pattern. The pair is now showing an Inverted Hammer candle above support at 93.88, the 76.4%Fibonacciretracement, hinting a bounce may be ahead. Initial resistance is at 95.76, the 61.8% level, with a break back above that eyeing trend line support-turned-resistance at 96.21.Alternatively, a reversal beneath support [...]