FOREX FORECAST FOR 24TH OF JANUARY, 2013. CLICK ON THE CHART TO ENLARGE
Money and Finance

FOREX FORECAST FOR 24TH OF JANUARY, 2013. CLICK ON THE CHART TO ENLARGE


Today on the 1 hour chart, the USD/JPY is on a downward trend. But we are going to pay attention at the level marked with purple colour line 88.98 (which will be our Pivot Point). Currently the market is moving upwards and we are expecting it to rebounce on the purple coloured pivot point level line 88.98 before continuing on its downwards trend towards the support level line 88.05.

RECOMENDATION : Buy if the price break the purple coloured pivot point level line 88.98 and is heading upwards with your stop loss place a little below the purple coloured pivot point and take profit set at 90.11 and upwards respectively.

Sell if the price rebounce on the purple coloured pivot point level line 88.98 and its going downwards with your stop loss place a little above the purple colour pivot point level line 88.98 and take profit set at level 88.05, 87.78 and downwards respectively. Please always use your MACD to time your entry point. And risk only 3% of your capital.






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