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 USD/JPY for July 05, 2017

USDJPYM30.png

Our upside target of USD/JPY has been hit. USD/JPT is expected to trade with a bullish bias above 113.10. Although the pair posted a pullback, a support base at 112.80 has formed and has allowed for a temporary stabilization. Even though a continuation of consolidation cannot be ruled out, its extent should be limited.

Therefore, as long as 113.10 is not broken, look for a rebound to 113.70. A break above this level would trigger another upside to 114.00 in extension.

Alternatively, if the price moves in the opposite direction as predicted, a short position is recommended below 113.10 with a target at 112.80.

Chart Explanation: The black line shows the pivot point. The current price above the pivot point indicates a bullish position while the price below the pivot point is a sign for a short position. The red lines show the support levels and the green line indicates the resistance level. These levels can be used to enter and exit trades.

Strategy : BUY, Stop Loss: 113.10, Take Profit: 113.70

Resistance levels: 113.70, 114.00, and 114.05

Support levels: 112.80,112.40, and 112

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