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THE POUND WILL GAIN THE POWER

Short GBP/JPY Idea The pair found support after its break below the triangle support and is currently in correction mode. Using the handy-dandy Fib tool on the latest swing high and low shows that the 61.8% level is right around the potential support-turned-resistance area and the 144.50 minor psychological mark. Price seems to be finding resistance at the 38.2% Fib, though, while stochastic is starting to turn down from the overbought level to signal that pound bears are ready to let the sellof…
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MOVEMENT ON RUN TO EUR/JPY

It’s a classic break-and-retest setup, forex fellas! After breaking past the descending channel resistance a few days back, EUR/JPY is making a correction play around the area of interest near the 50% Fibonacci retracement level.
Price gapped down over the weekend on news of another missile launch test by North Korea, leading more than a few market watchers to worry about an actual strike happening anytime soon. This means that the pair could be in for a deeper pullback, possibly until the 129.0…
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