DailyFX Forum - Conversation Between John Kicklighter and radatats

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Conversation Between John Kicklighter and radatats

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Conversation Between John Kicklighter and radatats

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12-14-2008 05:04 PM
radatats

I think you have a really good call on the AUDJPY. This pair has a REAL respect for the 34SMA and if you check the daily you will see that it is potentially ready to junp long. Watch for a break above the 34SMA and go long on the first pullback to the line. Set your stop below 4hr 34SMA which is now around 60.5. Add to position on further advances when price pulls back to the daily 34SMA. Remember to raise your stop too.

I think you could then reasonably target the daily 200SMA which is now at a healthy 86.5!!
Steve

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