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 July 18, 2017

GBPJPYM30.png

All our downward targets which we predicted in Yesterday's analysis have been hit, GBP/JPY is expected to continue its downside movement. The pair accelerated on the downside and broke below the lower boundary of the Bollinger bands. The downward momentum is further reinforced by both declining 20-period and 50-period moving averages. The relative strength index broke below its oversold level of 30.

Hence, below 146.70, expect a new drop to 146.25 and even to 144.80 in extension.

Alternatively, if the price moves in the opposite direction as predicted, a long position is recommended above 146.70 with the target at 147.55.

Chart Explanation: the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates a 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: 146.70, Take Profit: 145.25.

Resistance levels: 147.10, 147.55, and 148

Support levels: 145.25, 144.80, and 144

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