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 June 26, 2015

GBPJPYM30.png

GBP/JPY is expected to consolidate with a bearish bias. It is supported by buoyant EUR/USD undertone and demand from Japan's importers. But GBP/JPY upside is limited by the Japanese exports and positions adjustment ahead the weekend.

Technical comment:

The daily chart is still negative-biased as the MACD and stochastics are in bearish mode, five-day moving average is below 15-day moving average and is declining.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 193.80. A break of that target will move the pair further downwards to 193.45. The pivot point stands at 194.75. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 195 and the second target at 195.50.

Resistance levels: 195 195.50 196.25

Support levels: 193.80 193.45 192.75

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