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GBPJPY approaching resistance, potential drop!

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Brittiska pund/Japanska yen (FX:GBPJPY)  
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FX:GBPJPY   Brittiska pund/Japanska yen
Trend Analysis Harmonic Patterns Chart Patterns gbpjy GBP jpy gbpjpylong gbpjpyshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern gbpjy gbp jpy gbpjpylong gbpjpyshort forex forextrading forexsignals
GBPJPY is approaching our first resistance at 140.58 (horizontal pullback resistance, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 135.88 (50% Fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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