[USDJPY Daily]
[Current Daily Outlook] –Bullish (based on price action)
Daily
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2016.02.26
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High
|
113.98200
|
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Low
|
112.55300
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Close
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113.97400
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Pivot Point And Resistance
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Pivot Point
|
113.50300
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R1
|
113.03200
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R2
|
114.93200
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R3
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115.88200
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S1
|
113.02400
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S2
|
112.07400
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S3
|
111.59500
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Summary:
Pinbar formation
last Wednesday and 2 bullish candles would give this pair a bullish bias at the
moment. 50, 100, 200 SMA are still showing a bearish bias, but MACD main and
signal cross coupled with the angle of how the RSI is sloping up gives us a
bullish bias coupled with the PA trade. Possible continuation of the pair’s
climb at the moment but we should lookout for the news on Monday (February 29,
2016) and also be wary since it is NFP week.
Possible Entry and Exit:
1. Go Long 2- 3 pips up from the high of the February 26 candle SL is 3 pips below the close of low of the candle.
1. Go Long 2- 3 pips up from the high of the February 26 candle SL is 3 pips below the close of low of the candle.
Other Notes:
1. Take note of gaps formed during the weekend.
2. Watch out for the news on both pairs for
February 29, 2016.1. Take note of gaps formed during the weekend.
