Today’s Forex Guide

USD/JPY 4-hour: Reached the target


Mar.05.2015

3:30 pm (EST) Update

USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Reached the target.

Invest Diva positioning: Long positions above 120.11 with targets at 120.44 and 120.88 in extension.

Technical reasons why: The pair reached the first bullish target at 120.11 above the Ichimoku's cloud. The RSI is moving up above the neutrality area.

Alternative Scenario: Below 120.11 look for further downside with 119.59 and 119.33.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
119.59 120.11 120.88
119.33 120.44


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Uptrend prevails.

Invest Diva positioning: Long positions above 0.9501 with targets at 0.9767 and 1.0197 in extension.

Technical reasons why: The pair continues to move up towards the 76% Fibonacci level at 0.9767 above the Ichimoku's cloud. The RSI is at the over-bought zone.

Alternative Scenario: Below 0.9501 look for further downside with 0.9286 and 0.9070.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9286 0.9501 1.0197
0.9070 0.9767

 

yen ichimoku cloud

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