My Trading is based on the laws of supply and demand. Everything about price is reflected in the price. Price moves between areas of supply and demand until the demand is absorbed and price moves lower or supply is absorbed and price moves higher. This blog is dedicated to the relationship of supply and demand and it's effects on price in the forex markets. Once supply and demand is learned, it can be used in any market.
11-24-06
USDJPY
The USDJPY is down to 1.1570 this morning which is the bottom of the August to November range from the weekly chart.
The USDJPY has not been as weak as the USDCHF so the moving average is not that far away from the trading range.
I would not try to range trade the USDJPY. I want to see the 60 minute moving average catch up to the USDJPY before I trade this pair again.
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Forex Trading Based on Supply and Demand
at
2:12 AM
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