Screen Shot 2016-08-16 at 15.17.40

Hello traders today just a note as we have data in all three sessions. As this is being done today in the European session. Take note as Oil remains bullish will we hit the 50.00P/B again ?. I have placed the 120 USDJPY chart today and we can see how bearish this pair has been for a long time. I have placed two Fibonacci tools on the chart the Bigger and the latest swing. So if we were going to take the short trade I would say we need a strong pullback to the 200 ema. This is at the price level of 102.85. This would be a nice entry as I do think that we can move another level down to the 100.30 for a nice profit. Traders be alert as we are in the slow of the summer for the next two weeks and we get some more volatility in the market….

Thank you traders and we will talk soon……..William

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.