Killy_Mel
Long

FX CHART OF THE DAY: USDJPY TO CONTINUE UPWARD

FX:USDJPY   U.S. Dollar/Japanese Yen
USDJPY             has a chance to continue its upward trend if it holds further tests of its 1-week uptrend (in relation to 120-hour mean).

Thus it is a good opportunity to enter a long position on the pair, if price pulls back to the uptrend border of the 1-week trend (upper 1st standard deviation), currently at 124.20.

The stop level for a pullback trade is usually the relevant mean (120-hour mean for this trade), however in this case it is a better idea to put the stop on the lower 3.2 standard deviations from 24-hour mean.

There are no significant events coming out in Japan or the States on Tuesday, so it is safe to hold the trade through the day.
you might want to adjust those figure, you're saying 120.20 and 120.05 which the chart shows 124?
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Killy_Mel tonberry
Yup, did it late in the night, corrected now, thanx)
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Killy_Mel tonberry
although cant correct on the picture - surely it is 124.20 and 124.05
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