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 May 17, 2016

GBPJPYM30.png

GBP/JPY is expected to trade with bullish bias. The pair has just broken above the key resistance at 157.30 and is proceeding to 159.10 on the upside. Currently, the pair is trading above the upper Bollinger band while being supported by the ascending 20-period moving average. Therefore acceleration to the upside is expected. Above 159.10, the next resistance would be found at 159.50.

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 159.10 and the second one, at 159.50. In the alternative scenario, short positions are recommended with the first target at 156.70 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 157.30. The pivot point is at 157.30.

Resistance levels: 159.10, 159.50, 160.35

Support levels: 156.70, 156.30, 155.35

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