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GBPJPY seems to have found a roof near 133.00
GBPJPY has been in a descending move since it touched the one-month peak of 135.70. Currently, the price is revisiting the 23.6% Fibonacci retracement level of the down leg from 135.70 to 124.00 at 132.97 – which stands near the short-term falling trend line and the Ichimoku cloud. Looking at the technical indicators, the MACD oscillator is weakening its negative momentum and is approaching the zero line, while the RSI indicator is hovering near its neutral threshold of 50. Both are confirming the recent bearish to neutral bias in the near term. The market seems to be supported by the descending trendline that ... (full story)