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 USD/JPY for September 23, 2015

USDJPYM30.png

USD/JPY is expected to face key resistance at 120.30. The US stocks ended lower as materials stocks were influenced by falling commodities prices. The Dow Jones Industrial Average fell 1.1% to 16330, the S&P 500 declined 1.2% to 1942, and the Nasdaq Composite lost 1.5% to 4756. Nymex crude prices dropped 1.8% to $45.83 a barrel, while gold fell 0.7% to $1,125 an ounce. The 10-year Treasury yield declined to 2.127%, the lowest closing level since August 24, from 2.212% in the previous session. The pair is approaching the key resistance at 120.45 from the downside. Intraday indicators are mixed, with the 20-period intraday moving average (MA) staying below the 50-period one, and the intraday relative strength indicator (RSI) breaking above the neutrality level of 50. If the pair fails to break above 120.30, it is expected to return to the first downside target at 119.35 (around yesterday's low).

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 119.35. A breakout of that target will move the pair further downwards to 118.90. The pivot point stands at 120.45. 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 120.75 and the second target at 121.

Resistance levels: 120.75 121 121.50

Support levels: 119.35 118.90 118.20

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