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Leonid graduated from Donetsk National Technical University, specialization "Automation and process control". He came to the market five years ago. As a basis of trade he uses indicator «Murray levels» , also prefers the classical technical analysis.

JPY: The rapid exit from the flat

Leonid Varfolomeev

On the last week, the flat between the two levels 6/8 (109.38) and 5/8 (107.81) was resumed. At the same time, we have not seen closing below 5/8, while the price rose above 6/8.The repeated breakout of 6/8 and fixing above it led to the growth practically to the level of 7/8 (110.94). Against the further growth above this level, the bearish color STD1 still stands and presence of the formally down trend , although the intersection of STD1 with STH4 is approaching. In addition, the level of 7/8 is already provided significant support, therefore rebound from it is very likely, the goal is 6/8.

Trading recommendations:

sell – 110.94; sl – 111.70; tp – 109.40.

 

JPY
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