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MORNING BRIEF
Location: BlogsMy journey with GBPUSD    
Posted by: ForexPlane.com Editor 3/29/2007 8:02 AM
Tokyo session has taken the EURUSD down below the support 1.3323 (week low). Now it's coming to use the breakdown support as resistance. Once this is done and reverse, the short entry here can be initiated. Since this is the 60-minute chart, use a smaller timeframe suchas 15-minute or 5-minute chart to time the entry.



USDJPY has been very active the last few weeks. The resistance at 118.36 as been tested and the breakdown is now in progress. Going to lower timeframe may find a better entry. But the resistance is a bit too far (thus the stop loss) so the risk:reward ratio is not ideal.
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