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 Sep 02, 2014

GBPJPYM30.png


Overview:


GBP/JPY is expected to trade in a higher range. It is supported by the buoyant USD/JPY undertone and demand from Japanese importers. But GBP/JPY gains are tempered by the weak EUR sentiment and Japanese export sales. The daily chart is mixed as MACD is flat, stochastics is turning neutral, inside-day-range pattern was completed on Monday.


Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 174 and the second target at 174.50. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 172.55. A break of this target would push the pair further downwards and one may expect the second target at 172.30. The pivot point is at 173.05.


Resistance levels:

174

174.50

174.75



Support levels:


172.55

172.30

172


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