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GBP/JPY Is In A Downward Correction, Upward Move Likely

Key Resistance Levels: 150.000, 152.000, 154.000Key Support Levels: 146.000, 144.000, 142.000 GBP/JPY Price Long-term Trend: RangingGBP/JPY is presently in a sideways trend. Since March 11, the currency pair has been struggling to break above level 152.500. The pair has retested the resistance level on more than three occasions. On April 6 the resistance was broken […]

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GBP/JPY Challenges A Confluence Area!

GBP/JPY dropped aggressively in the short term and now is pressuring a support area. It’s traded at 151.41 at the time of writing lower versus 152.40 yesterday’s high. The Japanese Yen could start decreasing again if the Nikkei (JP225) jumps higher after its minor decline. The Pound is still bullish versus its rivals, so it […]

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GBPJPY breaks mayor bullish structure

Key Resistance: 150.10 Key support: 148.50 – 146.50 The GBPJPY has broken with a 5-month long bullish structure and is now retesting the back of this structure giving us the opportunity to go short here on a possible bearish continuation. In the short term, this pair is making lower highs and lower lows since it […]

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GBP/JPY Reaches Bearish Exhaustion, May Reverse At Level 149.53

Key Resistance Levels: 150.000, 152.000, 154.000Key Support Levels: 146.000, 144.000, 142.000 GBP/JPY Price Long-term Trend: BearishYesterday, the currency price broke the 21-day and 50-day SMAs. GBP/JPY is in a bearish trend zone. The implication is that the Pound is likely to further depreciate on the downside. However, there are bullish signals above level 149.00 support […]

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GBPJPY hedge on yesterday´s longs

Key Resistance: 151 Key Support: 149.80 – 148.60 – 147.75 Yesterday we took a long on the GBPJPY when it broke with this week´s highs. Price failed to break with the 150.80 level so we decided to manage our risk by moving stops below the daily lows. This level confluences with the Point Of Control […]

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GBPJPY finds buyers after last week´s dip

Key Support: 149.50 Key Resistance: 153.00 The British Pound has been vey strong since it retested the 133 level back in September 2020, rallying more than 15.30% from the lows to the highs of last week without having enormous pullback. The biggest one was back at the beginning of March when the GBPJPY retraced 2.70%. […]

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