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GBPJPY bearish at 2 ½ year low

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBPJPY fell to its lowest level since August 2013 last week on Thursday, to reach 151.63. Prices have since stabilized and paused the decline as momentum reached oversold levels – RSI dipped just below 30. This suggests that there will be some consolidation and a possible pullback in the near term before heading lower. The technical picture looks bearish, with all three moving averages sloping down (50,100 and 200-day moving averages). Prices have been making lower highs and lower lows since

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  2. Eliza Abrams

    Eliza Abrams Well-Known Member Trader

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    And it looks like it will continue falling.
     

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