Greetings Traders! the Swiss/Yen pair has been trading in a defined range of a bit less than 100 pips for the last couple of days and I look for it to break out soon. If it closes above 78.75 on the hour chart it is a buy for me. If it closes below 77.78, it is a sell. I'll put my stop on the other side of the channel and move to break even if I get 50 pips. I may put a trailer on if it starts looking dodgy in order to lock in some profit. If it breaks up I'm looking at 80.50. If it breaks down, I'm looking at 75.50.
Another one of the Yen pairs I like is the EUR/JPY. Looking at the hour chart I've got a trend line looking pretty strong that has been moving steadily upward since last week. If it breaks below the trend line on the hour chart, probably at about 118 or a bit higher, its a sell for me. Stop would go at about 119.80. I have as a profit target 113.00, but you know how I am about locking in some profit. We'll see how it goes.
Happy Trading!
Another one of the Yen pairs I like is the EUR/JPY. Looking at the hour chart I've got a trend line looking pretty strong that has been moving steadily upward since last week. If it breaks below the trend line on the hour chart, probably at about 118 or a bit higher, its a sell for me. Stop would go at about 119.80. I have as a profit target 113.00, but you know how I am about locking in some profit. We'll see how it goes.
Happy Trading!
