USD/JPY Moving average set up
February 24th, 2009
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For the last few days USD/JPY is in uptrend which is confirmed by the MACD and the MAs. One of the best tools for following of trend moves are the Moving averages. On the chart above you can see how we can use tests of the 20 period MA for set ups. We place buy orders above the hihgs of the signal candles. If we trail the move with stops below the 20 period MA you can see that the second signal generates 140 pips profit so far.
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