Technical analysis of GBP/JPY for February 01, 2018 888011000 110888 GBP/JPY is expected to trade with a bullish outlook. The pair bounced off its key horizontal level at around 154.85, and it is also supported by its increasing 50-period moving average. The procedure of higher lows and highs stays intact, which ought to confirm a favorable outlook. The relative strength index is bullish above its neutrality location at 50. To conclude, as long as 154.85 is not broken, it is most likely toadvance to 156.40 and 157.00 in extension. Alternatively, if the cost relocations in the instructions opposite to the projection, a Brief position is suggested to be listed below 154.85 with the target at 154.40. Technique: PURCHASE, Stop loss at 154.85, Take profit at 156.40 Chart Description: the black line reveals the pivot point. The rate above the pivot point indicates long positions; and when it is below the pivot point, it suggests short positions. The red lines show the support levels, and the green lineindicates the resistance levels. These levels canbe used to go into and leave trades.Resistance levels: 156.40, 157.00, and 157.55 Support levels: 154.40, 154.10, and 153.50. The product has been provided by InstaForex

By | February 1, 2018

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