Technical analysis of GBP/JPY for December 29, 2017 888011000 110888 All out targets which we anticipated in the other day’s analysis have actually been struck. The pair resumed its upward momentum, and is now challenging its resistance at 0.8895. A bullish breakout of this limit seems more likely to happen, as the 50-period moving average is turning up, and plays well a support. Lastly, the relative strength index calls for a brand-new rise. To summarize, above 151.45, try to find further advance to 152.35 and 152.60 in extension. If the price relocations in the direction opposite tothe projection, a short position is advised below 151.45with the target at 151.20 Method: PURCHASE, Stop Loss: 151.45, Take Revenue: 152.35 Chart Description: the black line reveals the pivot point. The rate above the pivot point suggests long positions; and when it is below the pivot points, it suggests brief positions. The red lines reveal the support levels and the green lineshows the resistance levels. These levels canbe used to get in and exit trades.Resistance levels: 152.35, 152.60, and 153.00 Support levels: 151.20, 151.00, and 150.55 The material has been offered by InstaForex Company-www.instaforex.com

By | December 29, 2017

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