Day trading strategies on currency pair CADJPY 3-08-2016 by AzaForex forex broker, simple tips for a successful foreign exchange strategy

Do not trade on the foreign exchange market without reading these tips
Yen in the Forex market raised its cost. This strengthening of the Japanese currency had an impact on its charts. For all currency pairs, which were trading with the Japanese Yen, it is clear that this growth is quite promising. If we take into account the currency pair Japanese Yen and Canadian dollar, there is the price went up to the level of support, although in other currencies that is not observed. Therefore, we can use this market situation to enter into a short position, because such a pattern allows traders to enter the market with the least risk, because under such levels of concentrated there is a variety of differently directed orders, and when all bids for the purchase and sale will be distributed between buyers and sellers, we enter into the game. It is better to join the winning side, rather than participate in the forex monsters battles. There is no reason to argue with the market and the millions of traders and investors, who commit their transactions on various trading Forex brokers platforms. If the price goes down, then we'll follow.

The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.

If the support level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Sell
•    The level of entry into short position: 76.70
•    The level of profit and close the position: 75.00 (170 pips)


Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.3370

Forex currency pair EURUSD 
Possible bearish movement in the breakdown of the support level 1.1240

GOLD
Possible bullish movement in the breakout of the resistance level 1367.30
 
Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9630