Today’s Forex Guide

USD/JPY 4-hour: Continues to move between the key levels


Feb.20.2015

02/20/2015 15:30 EST Update


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Rebounding from the Ichimoku's cloud.

Invest Diva positioning: Long positions above 1.5441 with targets at 1.5584 and 1.5753 in extension.

Technical reasons why: The pair is on an overall uptrend and rebounding from the 61% Fibonacci level and the Ichimoku's cloud. The RSI is around the neutrality area.

Alternative Scenario: Below 1.5441 look for further downside with 1.5352 and 1.5208.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5280 1.5441 1.5753
1.5208 1.5584


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Continues to move between the key levels.

Invest Diva positioning: No positions.

Technical reasons why: The pair continues to move up and down between the pivot levels. The RSI is around the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
117.29 118.45 121.83
116.05 120.63

 

 

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