MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis of USD/JPY for September 08, 2015

USDJPYM30.png

USD/JPY is expected to trade with a bullish bias. Key resistance is seen at 119.50. US markets were closed yesterday. This morning, Japan's government reported that the country's 2Q GDP (annualized, seasonally-adjusted) declined 1.2% from the previous quarter (vs -1.8% expected, -1.6% previously estimated). In Australia, the ANZ Roy Morgan Consumer Confidence Index dropped 5.8% from the previous week to 106.7 in the week ended on September 6. The pair is still trading below the key resistance level of 119.50. It is now around the overlapping 20- and 50-period intraday moving averages (MAs, at 119.33). If 119.50 isn't breached, the upside bias will remains calling for an upward movement back to the first upside target at 120.20 .

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 118.50 and the second target at 117.85. In the alternative scenario, short positions are recommended with the first target at 119.20 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 118.90. The pivot point is at 119.50.

Resistance levels: 120.20 120.65 120.95

Support levels: 119.20 118.90 118.25

The material has been provided by InstaForex Company - www.instaforex.com