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 GBP/JPY for March 04, 2016

GBPJPYM30.png

GBP/JPY is expected to prevail its upside movement. The pair is heading upward, backed by its rising 20-period and 50-period moving averages. The next upward targets are set at 162.35 and 163.20, calculated by Fibonacci projection. Besides, the relative strength index is still positive above its neutrality area at 50. In these perspectives, above 159.35, look for further advance to 162.35 and 163.20 in extension.

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. Therefore, long positions are recommended with the first target at 162.35 and the second one at 163.20. In the alternative scenario, short positions are recommended with the first target at 158.60 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 157.50. The pivot point is at 159.35.

Resistance levels: 162.35, 163.20, 164

Support levels: 158.60, 157.50, 156.30

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