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 November 18, 2015

GBPJPYM30.png

The GBP/JPY pair is expected to trade with a bullish bias. A support base at 131.20 was formed and has allowed for a temporary stabilization. The pair is expected to post a rebound as the intraday relative strength index is mixed to bullish. The further upside is therefore expected with the next horizontal resistance and overlap set at 188 at first. A breakout above this level would call for further advance towards 188.40.The

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 188 and the second target at 188.40. In the alternative scenario, short positions are recommended with the first target at 186.50 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 185.95. The pivot point is at 186.90.

Resistance levels: 188 188.40 189

Support levels: 186.50 185.95 185.30

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