Now lets move on to the beast GBPJPY. It has opened a bit bearish today but as pointed out in one of my earlier articles, it still has strong support all the way from 140.5 to 141.5. But each dip into this support region dries up more and more buyers who sit in this region to support the price. So, GJ needs to break out upwards sooner else it will start to fall.
As seen from the hourly chart, the support are at 141.4 and 140.6. On the upside 142, 143.3 and then 144. GJ has been ranging between 140.5 and 144 for a few days and hence a breakout should come soon and this breakout should be big..
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