USDJPY Daily Outlook for 20th December, 2013 (Friday)

USDJPY Daily Outlook for 20th December, 2013 (Friday)

Daily Chart

• Held quite well at the new support area 
• We are looking for 105 before some bigger entrancement 
• Please note the bearish butterfly is still a potential setup to the downside

Hourly Chart

• On the hourly the new support is very well respected
• We will look for opportunity to short at the 104.50 (141.4 fe) for a small trade
• Stochastics are overbought, but if goes higher, to 104.50 possible divergence 

Outlook Trade opportunity

We will look for opportunity to short at the 104.50 (141.4 fe) for a small trade for at least 15pips profit where we will tp 80% of the trade and leave2 0% to run lower 

Risk Level Medium

Tips -

Always take note of any economical news event on our provided calender below

AUDJPY Daily Outlook for 20th December, 2013 (Friday)

AUDJPY Daily Outlook for 20th December, 2013 (Friday)

Daily Chart

Respected the descending trend line and support quite well

• Good rebound from the descending bottom trend line channel and support
• We expect the market to pause at the 50% fib level for a small shorting possibility

Hourly Chart

• A strong upward move from Tuesday , we expect the market to go closer to the weekly pivot / 50% retrace fib area and should take a breather there.
• The Stochastics are very close to overbought area (+80)

Outlook Trade opportunity

Our sell limits are placed at the 50% retrace area / pivot weekly / 127.20 -141.40 fib extension. We will take profit with a 1risk:2reward and will take partial profit when it hits 1:1.

Risk Level High - due to the strong uptrend

Tips -

Always take note of any economical news event on our provided calender below