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Contributors Trade Idea USD/JPY

charmer logoBUY USD/JPY  10160  TARGET 10245  STOP/LOSS 10070

$JPY has double based at 10135…and because of this…we would now be looking to go into a long position.

We can hold longs…adding to 10112 and only reversing if we break below 10065..

A loss of this support would make the market look weaker then to 10028…but oversold conditions are

expected to kick in down here thus we are still looking to buy weakness..

Resistance is in the 10188/98 area. However…If we break above 10198 we look for the market to

come back towards 10228…

This is good resistance thus cover all longs here…Attempt small shorts…keeping stops above

10255…Only if above 10255 can we come back and re-visit out break point of 1090/93.

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About Carol Harmer

carol harmer

Carol Harmer has over 30 years experience of analysis and trading the world’s markets and is undoubtedly one of the most respected technical analysts in the world today.

Her career started in the early eighties, trading futures on the floor at LIFFE where she quickly discovered Technical Analysis as a way to maximize profits. She was one of the first traders on LIFFE to discover and study this form of analysis and quickly became widely recognized as an expert in its use as well as highly profitable.

This soon led to a position as Senior Technical Analyst for Midland Bank. She was later head hunted for the role of Manager of Technical Analysis for Nomura Bank where she was responsible for establishing a European technical department. She later became Head of Technical Trading at Credit Suisse where she also continued to trade for the bank. Carol is also one of the first T/A’s from a bank to join the  STA (The Society of Technical Analysts) in the mid 80′s and has trained and worked with some of the UK’s leading technical analysts.

In 1996 Carol returned to LIFFE and launched ‘Charmer Charts’ to train independent traders in technical analysis, becoming the first person to provide daily forecasts for the established traders on the trading floor. She became extremely well known and highly respected and enjoyed advising traders throughout the day. She also made regular appearances on Bloomberg, CNBC and Reuters financial TV and she continues to provide her valued, expert opinion on the direction of financial markets on CNBC today.

Read more about Carol on CharmerCharts.com

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