USDJPY: Range Bottom to Hold at 80.00?
STRATEGY: Pending Long
USDJPY put in a bullish Inverted Hammer just above the 80.00 figure, the bottom of the range that has confined prices since early October 2010. While this points to a bounce, the signal is comparatively weak and confirmation is needed on a convincing bullish close on the current candle. We remain sidelined for now and will look for buying opportunities in the days ahead.
To discuss these strategies with other traders, please visit the Candlestick Forum
To receive future articles by email, please contact Ilya at firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.