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 June 23, 2017

GBPJPYM30.png

GBP/JPY is expected to trade in a higher range as bullish bias remains. The pair posted a rebound and broke above both 20-period and 50-period moving averages. The relative strength index lacks downward momentum. The downside potential should be limited by the key support at 140.85.

Therefore, as long as this key level holds on the downside, look for a new upside to 142.30 and even to 142.70 in extension.

Alternatively, if the price moves in the opposite direction as predicted, a short position is recommended below 140.85 with the target at 140.40.

Chart Explanation: the black line shows the pivot point. The price above pivot point indicates the bullish position and when it is below pivot points, it indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 140.85, Take Profit: 142.30.

Resistance levels: 142.30, 142.70, and 143.45

Support levels: 140.40, 139.80, and 139

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