Friday, May 15, 2009

USDJPY (95.49)

USDJPY took a good dip during this week and for the time being, it will be
looking to take reasonable retracement. Traders will look to sell USDJPY
around 96.25 and if the retracement is extended above 97.00 level, then
another sell around 97.30 is possible to average out both trades.

Recommended Trade Levels

Trade 1: Sell USDJPY @ 96.25
Trade 2: Sell USDJPY @ 97.30
Stop: 98.40
Profit Target 1: 95.25
Profit Target 2: 94.25

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