Intra-day trading signal by AceTrader : USD/JPY

[acetraderfx]

Intra-day trading signal by AceTrader

USD/JPY OUTLOOK 99.33

Last Update At 05 Mar 2009 01:34 GMT

Although dlr has rebounded after finding
renewed buying at 98.90, a breach of y'day's high
of 99.49 is needed to confirm recent rise fm 87.10
has once again resumed for further gain to 99.75/78
but psychological res at 100.00 wud hold fm here.

Wud be prudent to exit long n look to buy again
on dips as 98.72 (prev. res) wud remain intact....

Range Forecast
99.10 / 99.40

Resistance/Support
R: 99.49 / 100.00/100.58
S: 98.72 / 98.03 / 97.55

Our 2008 trading performance summary:
http://www.acetraderfx.com/eng/perfo...erform2008.asp

[andy003]

95,95. USD JPY is in an downtrend directed by 1H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility is low. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 96,20 (25 pips). The downtrend should continue to gather momentum.