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GBPJPY Technical analysis 7 August 2018

2018-08-06 09:30 pm | Resource: Technical Analysis | No Views : 281

Time frame Used - four hours
GBPUSD is moving in a near term bearish direction
The bears managed to control the pair's GBPJPY to break level of  145.26 to down side to hit level of 144.04
In view of the technical indicators
The Relative Strength Index (RSI) refers to the arrival of indicators to the oversold area
  Therefore, we expect that pair's GBPJPY will  test level of 143.74 - 143.25 and then will rebound to the upside  in the corrective move to target the levels of 144.72 - 145.26
  The alternative scenario is that  GBPJPY violated levels of  143.25 downside  to target the 142.33 – 141.5  levels
   Resistance: 144.72 - 145.26 - 14648.12
Support: 143.74 - 143.25 - 142.33
Direction: Down
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