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USD/JPY Short In Good Shape, Buy GBP/USD On Dips

By MyFXspot researchForexMar 23, 2018 10:55AM ET
www.investing.com/analysis/usdjpy-short-in-good-shape-buy-gbpusd-on-dips-200300211
USD/JPY Short In Good Shape, Buy GBP/USD On Dips
By MyFXspot research   |  Mar 23, 2018 10:55AM ET
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EUR/USD

Trading strategy: Long
Open: 1.2330
Target: 1.2550
Stop-loss: 1.2245
Recommended size: 2.11 mini lots per $10,000 in your account

Short analysis: EUR/USD broad consolidation persists and monthly RSI is biased up. The trendline off February's high helps limit the upside and the pair slips back below the 10 and 21-day SMAs as well as the daily cloud top. Signals are mixed.

GBP/USD

Trading strategy: Long
Open: 1.4085
Target: 1.4300
Stop-loss: 1.3985
Recommended size: 2.00 mini lots per $10,000 in your account

Short analysis: A spike to 1.4220 and equally sharp pullback give a hanging man signal. However, we see pullbacks as buying opportunities for a run back to the high from early February.

USD/JPY

Trading strategy: Short
Open: 106.00
Target: 1004.00
Stop-loss: 107.00
Recommended size: 2.12 mini lots per $10,000 in your account

Short analysis: USD/JPY broke below previous 2018's 105.24 and is getting lower. We keep our bearish view with the target at 104.00.

USD/CAD

Trading strategy: Short
Open: 1.2900
Target: 1.2600
Stop-loss: 1.3050
Recommended size: 1.72 mini lots per $10,000 in your account

Short analysis: The USD/CAD broke below 14-day EMA (1.2933) for the first time since mid-February. This could be a bearish signal.

AUD/USD

Trading strategy: Await signal
Open: -
Target: -
Stop-loss: -
Recommended size: -

Short analysis: Wednesday’s jump and close above a 7-day EMA was a false signal. Latest rally stalls by the 21-day SMAs and short of the 200-day SMA. The ensuing slide sees RSIs biased down again and a long upper wick form on the monthly candle. An important support level is 0.7673 low on March 20.

EUR/GBP

Trading strategy: Await signal
Open: -
Target: -
Stop-loss: -
Recommended size: -

Short analysis: Pair sets a new low and RSIs are biased down to keep the overall bear view intact. On the other hand, the long lower wick on yesterday's candle suggests a bounce is due. We will wait for clearer signals before entering a new position.

Trading ideas by MyFXspot.com

USD/JPY Short In Good Shape, Buy GBP/USD On Dips
 

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USD/JPY Short In Good Shape, Buy GBP/USD On Dips

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Comments (2)
Ahmed Abdi
Ahmed Abdi Mar 27, 2018 11:49AM ET
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This comment has already been saved in your Saved Items
Many But i am asking to keep the Day And Time
Lubabalo Mtibe
Lubabalo Mtibe Mar 25, 2018 5:53AM ET
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Thank u matyasiak, dont u have ideas/predictions on cross pairs?
 
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