USDJPY, NZDUSD and CADJPY trading plan (08-06-2015).

Subscribe to this Weekly Forex Analysis (via email) –  It’s FREE 😉

1-USDJPY trading plan.

Buy signals above 123,7 with a take profit level around 135. Mind the 130 resistance level on the way.

On the monthly time frame USDJPY broke a previous monthly high around 124,8. This opens the road to the next resistance level around 135.

USDJPY MONTHLY CHART.

UJ_M

If we take a look at the daily chart, it shows a strong uptrend. We see clearly the breaking up of the monthly resistance at 124,8

USDJPY DAILY CHART.

UJ_D

This will most probably go up, but we cannot buy the pair while it is so high; we need first to wait for a pull back and a buying signal. On H4, we see a triple bottom around 123,7, this is the ultimate support we do not want to see broken down to keep a bullish bias on USDJPY. As long as we stay above that level, we will be looking for buying signals.

USDJPY H4 CHART.

UJ_H4

2-NZDUSD TRADING PLAN.

Sell signals under 0,725 with a take profit level around 0,69

On the weekly chart we see the pair broke down two significant supports around 0,72 and  0,725 . They now stand resistance and we will look for selling signals under those levels.

NZDUSD WEEKLY CHART.

NU_W

The monthly chart will help us in finding a take profit level, as we see the pair rushing down to a 50 fib level support around 0,69. This is where we will probably close our trade.

NZDUSD MONTHLY CHART.

NU_M_

3-CADJPY trading plan.

Buy signals above 100 with a take profit level around 103,3.

We see on the weekly chart that CADJPY broke a range resistance around 100 that is now support. The pair stands at a resistance around 100,9. Should that resistance break, the next one is a 0,786 fib resistance level around 103,3.

CADJPY WEEKLY CHART.

CADJPY_W

 

 

 

 

Rate this post:
(No Ratings Yet)
Loading...

  Recommended by ProfitF

Forex Broker | Binary Broker | ForexVPS | FX-Signals | BO-signals

FBS-profitF

Improve Your Trading Skills - Don't miss our new posts!

---