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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.

USD/JPY: The Rapid Exit from the Flat

Leonid Varfolomeev

Last week the flat between the levels 6/8 (109.38) and 5/8 (107.81) resumed. At the same time, the pair didn't close below 5/8, while the price rose above 6/8. The repeated breakout of 6/8 and fixing above it led the pair up to 7/8 (110.94). The level of 7/8 has already provided significant resistance, therefore the pair is likely to recoil down from it to 6/8.

Trading recommendations:

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

 

JPY
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