1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Forex4you Technical Analysis 22 July 2011

Discussion in 'Forex Daily News & Outlook' started by forex4you, Jul 22, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
    Likes Received:
    USD/JPY: technical analysis

    The price tested level 78.40/50 and even seemed to have breached it, but the breakout turned out to be false, so trading is currently carried out at level 78.60/70Indicators are unclear, MACD divergence shows that further downward movement is unlikely. Therefore, the best in case would be to anticipate a wide-range consolidation between 79.40 – 78.40/20 levels. The possibility of a decline towards 76.50/40 historical minimum is still there. Growth above 80.10/00 resistance, on the other hand, will be a sign of a change of sentiment towards the bullish.

    Forex brunei
    Analysis by: Joaquin Monfort
    Forex4you analyst

    Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Share This Page