USD/CHF:3 sessions ago, the trend changed its orientation from down to uptrend. During the third day of the increase, the pair crossed a resistance at 0.9734.
USD/JPY:For the last 7 sessions, there is a clear navigation between 80.89 and 81.92.
3 sessions ago, the trend changed its orientation from down to uptrend. During the third day of the increase, the pair crossed a resistance at 0.9734. This breach, in fact, confirmed the new bullish trend and closed the decreases, creating an opportunity for “Long trade”.
The candles being very strong, according to our analyses, there is a high probability that the pair’s current trend will last for several sessions.
The identification of an increasing configuration on one-hour graph could confirm the uptrend for today.
Once the resistance of 0.9681 crossed, the required configuration should be created, and it could be the best moment to order a transaction. Following, our analysts’ transaction:
· “Limit” order on “Long” position 10 pips above the mentioned resistance, meaning 0.9691.
· “Stop Loss” order on the last low occurred: 0.9611
· “Take Profit” order on the next resistance: 0.9724.
Daily graph: http://www.real-forex.com/charts-daily/221010/JPY_DAILY_221010.JPG
For the last 7 sessions, there is a clear navigation between 80.89 and 81.92. Once the pair will reach one of those two levels, there are two different ways to act:
· Waiting for a vain breach of the level in question (resistance or support). We suggest looking for a price configuration in the opposed direction and ordering “Take Profit” on the next level.
· The pair is stopped on one of the two levels for at least a session and a half: We suggest waiting for a price configuration in the opposed direction, and once identified run with it until the second level (resistance or support).
Have a profitable day!