22.02.201611:17 Forex Analysis & Reviews: Technical analysis of GBP/JPY for February 22, 2016

Long-term review

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

GBP/JPY is expected to trade in a lower range as it continue its downside movement. The pair has been capped by its descending 20-period and 50-period moving averages and remains on the downside. Meanwhile, the relative strength index is negatively oriented. The first target to the downside is set at the horizontal support and overlap at 159.30. A break below this level would open the way to further weakness towards 158.20.

Trading Recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 159.30. A break of this target will move the pair further downwards to 158.20. The pivot point stands at 162.20. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 162.20 and the second target at 163.00.

Resistance levels: 162.20, 163.00, 163.85

Support levels: 159.30, 158.20, 157.35

Back to the list

Open trading account

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.