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 September 06, 2016

GBPJPYM30.png

GBP/JPY is expected to trade with bullish bias above 136.80. Despite the recent consolidations, the pair still holds above its nearest support at 136.80, which should limit any downward attempts. The relative strength index is mixed below its neutrality area at 50, but lacks strong downward momentum. Though a continuation of the consolidation cannot be ruled out, its extent should be limited. To sum up, as long as 136.80 is not broken, look for further advance to 138.50. A break above this level would open the way to a further upside toward the next resistance at 139.55.

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 138.50 and the second one at 139.55. In the alternative scenario, short positions are recommended with the first target at 135.90 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 135.35. The pivot point is at 136.80.

Resistance levels: 138.50, 139.55, 140.75

Support levels: 135.90, 135.35, 134.25

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