Forexpros.com Daily Analysis - 19/07/2011

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ForexPros Daily Analysis July 19, 2011


Tomorrow: Free webinar on ForexPros - Sharpening Your Edge Series: Finding Your Entry

Expert: Andrei Knight

Start: Wed, Jul 20, 2011, 08:00 PST
End: Wed, Jul 20, 2011, 09:00 PST

Learn how to spot the 3 different types of entries: trend-following, range, and counter-trend, as well as how to confirm those signals and fine-tune your timing. Join leading fund manager and trading coach Andrei Knight for this exciting instructional webinar which will transform the way you look at charts and help you achieve better trading results.

Mr. Knight is the author of "Trading Forex for a Living" from Harriman House, the "Institutional Trading Secrets Revealed" DVD course from Rockwell Trading, and much more.

to join free

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Is Reversal Next in USD/JPY?

Following weeks or relative inaction, the USD-JPY finally sprang to live last week. The price found solid resistance at the 100 SMA, around 81.60, and sold off for the next few days, closing below the critical 80.00 level. Before the trading stopped for the week, the lowest point reached was 78.45.

The [color=black]touched that level twice, on two consecutive days, forming a possible