Technical analysis of GBP/JPY for August 11, 2017 888011000 110888 All our targets, which we anticipated in the other day’s analysis, have actually been struck. The set is still under pressure and taped a succession of lower tops and lower bottoms because Aug 10, which validates an unfavorable view. The declining 20-period and 50-period moving averages keep the drawback predisposition. The relative strength index is listed below its neutrality level at 50 and does not have upward momentum. In addition, 142.25 is playing an essential resistance role, which should limit the upside capacity. As long as this essential level hangs on the upside, look for a more drop towards 140.50 as well as 139.95 in extension. If the price moves in the opposite instructions as forecasted, a long position is suggested above 142.25 with the target at 142.80. Technique: OFFER, Stop Loss: 142.25, Take Revenue: 140.50. Chart Explanation: the black line shows the pivot point. The rate above the pivot point shows the bullish position; and when it is below the pivot points, it indicates a short position. The red lines show the assistance levels and the green lineshows the resistance levels. These levels canbe used to get in and leave trades.Resistance levels: 142.80, 143.35, and 144.35 Support levels: 140.50, 139.95, and 140.65. The product has actually been provided by InstaForex Business-www.instaforex.com

By | August 11, 2017

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