Greetings.
Let’s pull up the USD/JPY hourly chart.
Look for a potential continuation of the recent downward movement as we continue in this sideways channel. We have already passed the 61.8% Fibonacci retracement levels, however, also watch for the 80% Fibonacci level as well.
Also, watch for support levels around the 81.90 & 81.40 marks.
Trade with caution and be sure to apply your money management.
Good luck with trading and we’ll see everyone again tomorrow.
C2FX SPECIAL OFFER
We’ve already had several traders take advantage of our monthly subscription to the C2FX Forex Trade Sheet. The trade sheet features 3 styles of trading (short term, long term and educated scalping) and made more than 16,700+ pips for long term and more than 1,260+ pips for short term trading.
We’re also offering a FREE month for our annual subscribers.
Visit www.c2fx.com or email me for more information at [email protected].
FIX PROTOCOL
For any trader, hedge fund, developer, programmer or IT personnel who is interested in learning about Fix Protocol, there will be a 1 day training course on May 12, 2011 in Las Vegas, NV. You also get $50 off your registration if you mention “ROSS”. There is a minimum amount of attendees required to hold this seminar so please pass it on to your colleagues.
Here is a link to the event: http://guest.cvent.com/d/9dqt7k