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Make or break time for GBP/JPY bulls

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The big “risk-off” trade over the last couple of weeks has taken a bite out of many markets, but perhaps no widely-followed instrument has been hit as hard as GBP/JPY. Just before Christmas week, the historically volatile pair was trading up around 183.00, at roughly the same level as it was exchanging hands back in late August. Over the last three weeks though, the bottom has absolutely dropped out and GBP/JPY is trading nearly 1000 pips lower. More worryingly for GBP/JPY bulls, the exchange

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