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Forexpositive

USDJPY Scenario #2 if bearish USDJPYScenario #2 (if bearish USDJPY) If the pivotal support/resistance at 100.60-80 fails to hold, and USDJPY makes a clean and decisive break below this level, there could be lots of stops from long positions to be triggered in the red circle. With the next significant support 300pips away at 97.00, market could attempt to go for the short side. In this case, short USDJPY when USDJPY retraces to 100.60-80. Short USDJPY 100.60-80 SL 101.50 TP 97.00 ===== www.ForexPositive.com Twitter @ForexPositive =====
Short
by Forex_Positive
Bullish ascending triangle in GBPJPYBullish continuation pattern in GBPJPY The ascending triangle pattern is a bullish continuation pattern in GBPJPY. There are 2 ways to trade this pattern. 1) Aggressive method (Long GBPJPY on breakout) Place a buy stop order on breakout above 173.50 SL 173.00 TP 175.00 2) Conservative method (wait for retracement) After GBPJPY breakout decisively above 173.50, wait for any pullback to 173.50. Place a buy limit order 173.50 SL 173.00 TP 175.00
Long
by Forex_Positive