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 December 14, 2016

GBPJPYM30.png

GBP/JPY is expected to trade with a bullish bias above 145.40. The pair is posting a consolidation and remains above its horizontal support at 145.40. And the relative strength index lacks downward momentum. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. As long as 145.40 is not broken down, further bounce is preferred with 146.30 and 146.65 as targets.

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 146.30 and the second one at 146.65. In the alternative scenario, short positions are recommended with the first target at 145.05 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 144.65. The pivot point lies at 145.40.

Resistance levels: 146.30, 146.65, 147.25

Support levels: 145.05, 144.65, 144.15

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