USDJPY . readying for upmove?

The Nifty gave an intraday rally which later proved to fizzle out. But those of you who have attended my intraday trading workshop, surely would have gained hugely. This is the kind of day we wait for !

Well, many blog readers have requested me to cover world currencies in my blogposts and so I thought of evaluating something which i personally trade.

USDJPY seems to be readying for a upmove. Currently it is inside of a bullish 'Flag' formation and i expect that a break out above 93.80 (safely 94) should trigger a fresh round of buying in the pair.



The target could be near to 99-100 in near medium term. ( a big move in currency markets). Keep your stoploss near to 91.50.

Well those of you who are aware, we can now trade this pair in Indian markets (NSE / MCX-SX) too... (Incidentally that is where I too trade).

Surely you are all becoming 'Global Traders'

Happy 'currency' trading !

CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd .
www.investogyan.com