Technical analysis of GBP/JPY for June 14, 2017 888011000 110888 The the other day take revenue target for GBP/JPY has actually been hit. After striking the mark of 140.80(today’s high), which was likewise our target moved downward, the pair went downwards. For that reason, the level played a resistance role. The set is now expected to trade in a lower range below 140.60. The pair has plainly reversed downwards after its failure to break above the resistance at 140.80. The 50-period and 20-period moving averages are denying and should continue to push the costs lower. Besides, the relative strength index is negative listed below its neutrality location at 50. As long as 140.60 is not surpassed, anticipate a return to 139 and 138.60 in extension. If the cost moves in the opposite direction as anticipated, long position is suggested above 140.60 with targets at 141.20 and 141.80. Chart Explanation: The black line reveals the pivot point, present rate above pivot point shows the bullish position and below pivot points indicates the brief position. The red lines show the assistance levels and the green line shows the resistance levels. These levels can be utilized to get in and leave trades.Strategy: OFFER, Stop Loss: 140.60, Take Earnings: 139 Resistance levels: 141.20, 141.85, and 142.15 Support levels: 139.00,138.60, and 138 The product has been supplied by InstaForex Business-www.instaforex.com

By | June 14, 2017

Share This:

Leave a Reply

Your email address will not be published. Required fields are marked *