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[OTHERS] FOREX : The Buying Opportunity (long position)

USD/JPY (us dollar vs Japaneese Yen)

On a 4-hour graph the USD/JPY currency pair has successfully broken through the upper limit of the downwards channel. However, the growth was limited by the Fibonacci correction level 61.8.
As mentioned before, if the support level 80.93 is broken, long positions should be closed as a break of this level will cause the pair to decrease to 80.20.
Earlier on a 4-hour graph the USD/JPY pair has formed Hammer candlestick, indicating upside movement. This candlestick shows that the currency pair was decreasing for several days, but rebounded near 80.93.
This viewpoint is supported by the fact the pair has successfully broken the 23.6 Fibonacci correction level. Breakout of the resistance level 82.85 has targeted the pair to 84.50.


USD/CAD (us dollar vs canadian dollar)


Support levels: 0.9820, 0.9711, 0.9650
Resistance levels: 1.0050, 1.0212, 1.0290

On a 4-hour graph the USD/CAD has successfully broken the resistance level at 0.9980 to roll back further. Earlier the USD/CAD has bounced off after refreshing a multi-month low.
At the moment the viewpoint to the pair is neutral. As mentioned before, if the USD/CAD breaks the 0.9980 resistance level further advance to 1.0212 should be expected.
However, if a reversal takes place break of the 0.9820 support level will target the pair to 0.9711.
In the midterm the breakout of the support level at 0.9930 indicated continuing midterm downtrend from 1.3063 (2009 high) with 0.9700 as a target. However, this downside movement is probably a correction, and strong support level is located near 0.9056-0.9700.
Thus, if a reversal takes place, the breakout of 1.0851 will prove the downtrend broken through from 1.3063. In this case the USD/CAD is expected to go up to the resistance level 1.1126 with 1.1866 as the next target.








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u/j pair has not broken the upper trendline on the 4hr. Might be a good place to short @83 area. What say you?
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from the low of 81.84 and top at 83.11 now UJ retrace to 61.8% level at 82.30 and flag pattern appear pointing to 83.50 level as a 1st resistant...
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i just went long on the e/u pair @1.3561(today's pivot) and move s/l @b/e. Free trade now ,hopefully it works
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thanks eric for replying.....
by using H4 and D1 TF...it quite risky to enter as a buyer....looks like buying on top....
the EU & GU show wedge pattern....
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