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GbpJpy outlook

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#GBP/JPY# GbpJpy outlook

After reaching 140 zone for the second time in the past 2 months, GbpJpy rolled back and is trading under 139 at the time of writing.
I expect this resistance to be strong and for the pair to drop to 136.50 in the medium term.
In my opinion, rallies should be sold and only a daily close above 140.50 would change this outlook

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GBP/JPY keeps recovery moves from 138.60 to attack a descending trend line from August 13.
Good call...As long as 147.95 resistance holds, an eventual downside breakout remains in favor.
On the upside, firm break of 139.73 will resume whole rise from 123.94. Next target will be 100% projection of 123.94 to 135.74 from 129.27 at 141.07.

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