Today’s Forex Guide

USD/JPY 4-hour: Testing the 50% Fibonacci level


Apr.08.2015

3:30 am (EST) Update

USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Testing the 50% Fibonacci level.

Maria's Positioning: No positions.

Technical reasons why: The pair is testing the 50% Fibonacci level as a key resistance level at 120.16 above the Ichimoku's cloud. A confirmation of breaking above this level woulld signal further up-moves. The RSi is above the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
119.73 120.16 121.14
119.19 120.63


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Consolidating inside the triangle.

Maria's positioning: No positions.

Technical reasons why: The pair is consolidating inside the triangle around the Ichimoku's cloud. The RSI is at the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.4742 1.4853 1.5335
1.4637 1.4986

 

fomc janet yellen

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