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: rapid drop of a price back to 107.81

Leonid Varfolomeev

Repeated intersection of STD1 with STH4 took place, but it is not a signal to a further declines. A confident break below 5/8 (107.81) will confirm the desire of bears to test the ultimate goal at 4/8 (106.25). Despite the colours of both ST, growth to the area of ​​6/8 (109.38) seems preferable, given the frequent bounces from 5/8. But firstly the pair will finally test higher levels. 

Trading recommendations:

Buy – 107.80; sl – 107.30; tp – 109.30.


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