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 19, 2015

GBPJPYM30.png


Fundamental overview:
GBP/JPY is expected to trade with bullish bias.It is supported by the positive global risk sentiment and demand from Japan importers. But GBP/JPY gains are tempered by the Japan exporter sales. But sterling sentiment is dented by the higher-than-expected 5.7% U.K. unemployment rate in the 3 months to January (versus forecast 5.6%), smaller-than-expected 1.8% on-year rise in average weekly earnings in the 3 months to January (versus forecast +2.2% on-year).


Technical comment:

The daily chart is tilting positive as stochastics is rising from oversold levels, bullish parabolic stop-and-reverse signal was hit on Wednesday.


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 180.80 and the second target at 181.80. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 177.10. A break of this target would push the pair further downwards, and one may expect the second target at 176.15. The pivot point is at 178.55.


Resistance levels:

180.80

181.80

182.75

Support levels:
177.10

176.15

175.35


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