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*

Daily analysis of GBP/JPY for September 23, 2015

GBPJPYH4.png

Overview

According to the attached H4 chart, the break of the 184.22 support suggests that a rebound from 180.36 has been already completed at 188.28. Intraday bias is turned back to the downside for the 180.36 support. Break will extend the whole fall from 195.86 to the 174.86 support. In case of recovery, risk will stay on the downside as long as 188.28 holds. The break of the medium-term trendline support is taken as a sign of trend reversal. This is supported by bearish divergence condition in the weekly MACD. Besides, GBP/JPY was close to key cluster resistance of 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to the 200 psychological level. A break of 174.86 will confirm trend reversal and bring a deeper fall to 38.2% retracement of 116.83 to 195.86 at 165.67. In case of another rise, we will be cautious about strong resistance from 199.80/200.00 to bring a reversal finally.

Daily Pivots: (S1) 183.46; (P) 185.23; (R1) 186.38

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