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USD/JPY Presents Scalping Opportunity as Risk Trends Calm

USD/JPY Presents Scalping Opportunity as Risk Trends Calm

2010-05-12 14:16:00
John Rivera, Currency Analyst
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Key Technical Levels

SCALP512a

The 20-Day SMA at 93.23 has held as resistance for the past four days increasing its validity as a barrier. Meanwhile, the 50-Day SMA at 91.42 has limited downside risks the past two days confining the pair to a 200 pip range. A developing ascending channel today is providing target levels to enter and exit positions.

SCALP512b

 

Quantitative Metrics

The USD/JPY like most pairs has seen its ATR spike higher and its Bollinger band width widen following the extreme volatility that was generated by the Greek debt crisis. However, we have started to see the ATR turn lower as the pair has begun to consolidate which is encouraging for high frequency traders.

SCALP512c

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