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 August 28, 2017

USDJPYM30.png

USD/JPY is under pressure and expected to continue the downside movement. The pair broke below its 20-period and 50-period moving averages, which play resistance roles. The relative strength index is mixed with a bearish bias. The upside potential should be limited by the key resistance at 109.55.

Hence, as long as this key level is not surpassed, look for a further decline to 109.00 and even to 108.80 (the low of August 24) in extension.

Alternatively, if the price moves in the opposite direction, a long position is recommended above 109.55 with a target at 109.80.

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 signal 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: SELL, Stop Loss: 109.55, Take Profit: 109.00

Resistance levels: 109.80, 110.05, and 110.55

Support Levels: 109.00, 108.80, 108.60

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