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GBPJPY: 300-Pip Target Contingent on Today's Close
Back on March 22, I wrote that GBPJPY is vulnerable below 147.00. That area was former rising wedge support which would have likely attracted sellers if tested as new resistance. As you can see from the chart below, GBPJPY has only managed to climb as high as 146.50. The breakdown on the 20th is still in play which leaves the pair vulnerable. But there was a notable development on Thursday. You may recall the 144.60 horizontal support level from my March 22nd post. Well, GBPJPY closed below that level at the end of Thursday’s session. That wasn’t a surprise given the GBPUSD trend line break I pointed out ... (full story)
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- Hutch
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- 4for4
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Market is not random but unpredictable
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- 4for4
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Market is not random but unpredictable