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USDJPY – Reacting to the bottom of the range

Earlier this morning, the USDJPY reached the bottom of the short term range, and apparently it is being rejected from that level:

USDJPY

USDJPY

We might get a trip to the top of the range… what do you think?

We need to adapt to the market conditions, if the USDJPY is ranging, lest trade a range bound strategy (we cant trade it as if it was trending right?)

Please let me know your thoughts.

Trade Safe

Raul Lopez
http://www.straightforex.com/

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This entry was posted on Thursday, August 19th, 2010 at 4:27 pm and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “USDJPY – Reacting to the bottom of the range”

  1. Raul Lopez says:
    August 24, 2010 at 5:52 pm

    Hello Andy,

    Now it is out of the range, and the JPY is gaining strength. The question is, for how long the BOJ will stand these levels…

    Raul

  2. Andy B says:
    August 19, 2010 at 5:20 pm

    Here's what I think. Momentum in the range is diminishing and I think it would be hard work to eek anything out.