Technical analysis of GBP/JPY for June 16, 2017 888011000 110888 GBP/JPY is expected to move higher and continue the rebound. The set bounced off its support at 122.35 last night, and is anticipated to post a new rebound. As both the 20-period and 50-period moving averages are turning up, they must continue to push the costs higher. In addition, the closest assistanceat 123.10 should likewise limit any down efforts. The relative strength index is bullish and requires more benefit. As long as 141.00 is assistance, we expect for an advance to 142.75 and 143.35 in extension. If the cost moves in the opposite instructions as forecasted, a short position is advised below 141.00 with targets at 142.75 and 141.80. Chart Description: The black line shows the pivot point. The rate above pivot point suggests the bullish position and when it is below pivot points, it shows the brief position. The red lines reveal the assistance levels and the green line indicates the resistance levels. These levels can be used to get in and leave trades.Strategy: BUY, Stop Loss: 141.00, Take Profit: 142.75 Resistance levels: 142.75,143.35, and 144.00 Support levels: 140.35,139.85, and 139 The material has actually been offered by InstaForex Business- www.instaforex.com

By | June 16, 2017

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