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 October 08, 2015

GBPJPYM30.png

GBP/JPY is expected to trade with a bullish bias. The pair posted strong rebound yesterday following the break above its key resistance at 183.25 (the upper boundary of its previous trading range). The upside room has been opened towards 184.85. Besides, the rising 20-period and 50-period MAs also confirmed a positive outlook. The intraday RSI shifted to bullish. In that case, as long as 183.25 is not broken, watch for further advance to 184.85 and 185.40.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 184.85 and the second target at 185.40. In the alternative scenario, short positions are recommended with the first target at 182.70 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 182. The pivot point is at 183.25.

Resistance levels: 184.85 185.40 186

Support levels: 182.70 182 181.30

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