Tuesday, March 25, 2008

I have selected USDJPY to concentrate on as buying interest is also coming into this product from a result of the direct equity market, carry trade correlation.

100.40 was the official break higher, which now targets Fib zone resistance between 101.90 and 102.20. We currently trade 100.71, well above the 100.40 break. So in the interest keeping risk low, I am bidding 100.50, with stops below 100.00 for the move into 101.90-102.20 zone. (forex.com)

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