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 April 13, 2016

GBPJPYM30.png

GBP/JPY is expected to trade in a higher range as the bias remains bullish. The pair stands above the short-term rising trend line since April 11 and is also supported by its 50-period moving average. Meanwhile, the relative strength index lacks downward momentum. Further upside is therefore expected with the next horizontal resistance and overlap set at 156.70 at first. A break above this level would call for further advance toward 158.05 in extension.

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. Therefore, long positions are recommended with the first target at 156.70 and the second one, at 158.05. In the alternative scenario, short positions are recommended with the first target at 153.45 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 152.60. The pivot point is at 153.95.

Resistance levels: 156.70, 157.15, 158

Support levels: 153.45, 152.60, 152

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