Forex Trading Strategies

[Ataglance2]

USD/JPY

USD/JPY TRADING PAGE
SPOT TECHNICAL SIGNIFICANCE RECOMMENDATION POSITION
110.10(S) Daily Highs Jan 10 & 11 Flat On A Failure

FLAT at 107.70
open 14/02/08
time 23:11
target
stop
109.70(M) Jan 11 Hi, 50% Fibo Take Profit, Buy Break
109.00(M) Jan 14 Hi, 78.6% Fibo Take Profit/Buy Breakout
108.65(M) Daily Low Jan 11, 38.2% Flat On A Failure
107.82 23:50 GMT THU 14 FEB
107.30(M) 10-Day MA Buy A Bounce
107.00(M) Daily Low Feb 13, 20 SMA Buy A Bounce
106.35(M) Daily Trend Support Sell A Break Below
105.90(M) Daily Low Feb 9 Cover On A Bounce

Overnight longs were stopped on the dip in Asia for a 25 pt loss, giving back earlier gains. Our bias remains up, with the gently rising trend that began on January 28th and our strategy is to buy a down side bounce, using a tight stop, starting at the 10 day moving average. Dailies remain net bullish, though momentum is slow, while the hourlies are mid range.