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GBPJPY could form Double Bottom pattern


The Sterling Pound (GBP) versus the Japanese Yen (JPY) bounced into lowest price of 145.93 since last March.

Technical Comment: GBPJPY is trading in today near the resistance line of 147.20, breaking above the resistance level will open the door to form a "double bottom" pattern to target 148.25 and 149.05.

Comment on the Previous Analysis: Targeted 149.50 - 150.05

Expected Daily Trend: Bullish above 147.20


Important Levels:

Support: 146.05 - 145.35 - 144.50

Resistance: 148.20 - 149.05 - 150.00

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