USDJPY has bounced to a high of 81.41 this morning. I wrote yesterday that it wouldn’t surprise me to see a drop to the historic low of 79.95 but it hasn’t happened yet. I also wrote that resistance will be at 81.92/97 (10/19 and 10/13 highs), 82.88 (9/14 low) and 83.40 (daily downtrend line). It’s getting near that first resistance so let’s see what happens.
© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.
My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.
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