Monday, March 3, 2014

USDJPY Forecast and Trade Setup for 3th March, 2014

USDJPY Forecast and Trade Setup for 3th March, 2014

Daily Chart

  • My marked area of Potential Reversal Zone (in blue) is a Fib ext of 200 from the first leg down from the highs
  • Look left, and you will see its also a previous resistance
  • Also a 61.8 Fib Retrace level

Hourly Chart


  • On the 4 hourly chart, i can identify a equal measured move, which falls right at my blue zone (PRZ zone)
  • Will take this trade as a longer term trade, stops will be wide

Outlook Trade opportunity

Please see Hourly Chart

Risk Level Medium


Tips -

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