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 May 11, 2017

USDJPYM30.png

USD/JPY is expected to trade in a higher range. The pair validated an intraday triangle pattern, and resumed its uptrend. A bullish cross has been identified between the 20-period and 50-period moving averages, which should confirm a positive outlook. Besides, the relative strength index is bullish above its neutrality area at 50.

To conclude, as long as 113.95 holds on the downside, look for a continuation of the rebound to 114.40 and 114.70 in extension.

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 114.40 and the second one at 114.70. In the alternative scenario, short positions are recommended with the first target at 113.60 if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 113.40. The pivot point lies at 113.95.

Resistance levels: 114.35, 114.70, and 115.00

Support levels: 113.60, 113.10, and 112.65

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