USD / JPY monthly update

11 במרץ 2013

Here I've combined CLONING with TREND LINES.The current candle pattern,which is the first thing I look at, is clearly in a bullish trend. A pull back to one of the red support lines is possible. IF USDJPY can rise and close above reference channel and clear the nearby trend line, the next near term target is the trend line just above. The DPO (13)monthly above / below mid-point works quite well as a trend change indicator, with some instruments you might have to play around with look back periods.On weekly and daily I usually set it at 21.