26th June 2015 Intraday Market Analysis

Posted On 26 Jun 2015

USDJPY

We will be looking for a short opportunity around the 123.80 region, with stops above the 124.00 even level. Targets can go around the 123.45 – 123.30 region.

GPBJPY

We have two key levels to watch on this pair. First is the 61.8 retracement around the 195.00 even level. The other is a potential Bat pattern completion at 195.60. A conservative stops can go above the 195.90 level; while an aggressive stops can be place just above the 195.40 level. First target can be placed at 194.00, and the extended target can be placed at 193.40.

EURJPY

We can look for a short opportunity should price retrace back to the 138.85 region. Stops have to go above the 139.20 level with potential targets at 138.20 and 137.80.

About the Author

A self-taught trader, Kar Yong was interviewed in Channel News Asia’s Money Mind Young Investor and featured as Social Guru on eToro social trading platform in 2013. He founded FX Pipsology in 2014, a platform dedicated to people with similar interest in forex trading. At present, Kar Yong is also a teacher and mentor to many. [space height="20"] [social type="facebook"]https://www.facebook.com/fxpipsology[/social] [social type="youtube"]https://www.youtube.com/channel/UCjsEg0JoKjwQF7X7dN8MHkQ[/social]