Technical analysis of GBP/JPY for December 20, 201… 20.12.2017

[ad_1]

Exchange Rates 20.12.2017 analysis

All our upside targets which we predicted in yesterday’s analysis have been hit. Despise of recent pullback, the pair is still trading above its rising 50-period moving average. The relative strength index is mixed with a bullish bias. The downside potential shoulder is limited by the key support at 150.85.

Hence, as long as this key level is not broken, look for a further upside to 151.90 and even to 152.25 in extension.

Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 150.85 with the target at 150.40

Strategy: BUY, Stop Loss: 150.85, Take Profit: 151.90

Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 151.90, 152.25, and 152.70

Support levels: 150.40, 150.15, and 149.60

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Ahsan Aslam,
Analytical expert
InstaForex Group © 2007-2017

Benefit from analysts’ recommendations right now

Top up trading account

Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

[ad_2]

Source link

قالب وردپرس



We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.



Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at agfab2013@gmail.com


Follow us on twitter @newsbeatportal

learn how to make profit from your losing bets on nairabet, bet9ja, merrybet, surebet. 07030635051
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535


Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.

Konga Verified Blogger

Leave a Reply