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| EURJPY 4HR chart. Dates included on the chart are March 7, 2011 - March 28,2011 |
ANALYSIS:
The pair closed below the 38.2% retracement trend line of the larger uptrend. Additionally, the week closed below the trendline drawn in pink, which had contained price action since the lows reached in mid March. I am placing a sell limit order, above market price (as shown on the graph) at 114.65. Stop loss at 115.50. Target at 113.60. Trade according to your own risk appetite, and of always do your due diligence - do you agree with me before you take the trade? Never make a trade that someone else has suggested unless you agree with it yourself. If you agree with my trades, vote! Similarly, if you disagree, vote! Any and all feedback welcome!
TRADE OPTION:
Sell Limit: 114.650 (PENDING ORDER)
Stop: 115.50
Target: 113.60
Trade at your own risk, my analysis is for educational purposes, for your benefit, that you can use to make your OWN trading decision.
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