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 June 12, 2017

1497277749_USDCHFM30.png

USD/JPY is expected to trade in lower resistance as far as key resistance lies at 110.45. The pair posted a technical rebound, and is now challenging its nearest resistance at 110.45. The upward potential is likely to be limited by the key resistance which is at 110.45. In addition, the 50-period moving average is still heading downward. Therefore, even though a continuation of the technical rebound cannot be ruled out, its extent should be very limited.

As long as 110.45 holds on the upside, look for a return to 109.65 and 109.35 in extension.

Alternatively, if price moves in the opposite direction as predicted, long position is recommended above 110.45 with targets at 109.65 and 109.35.

Graph Explanation: The black line shows the pivot point, present price above pivot point indicates the bullish position and below pivot points indicate the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy : SELL, Stop Loss: 110.45, Take Profit: 109.65

Resistance levels: 120.80, 111.10, and 111.45

Support levels: 109.65,109.35, and 109

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