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GBP/JPY with plenty of room to drop furtherly

BreExit vote is scheduled for the late June and GBP/JPY remains an attractive option to traders. On a weekly chart, the market price is well below WMA 200, 100 and 55. Additionally, the price is staying below two important trend lines (T1 and T2). If you look at long-term Fibbo levels, GBP/JPY tested 50% retracement at around 155.00 and bounced to the horizontal previous support/ now resistance at 163.60
On a daily chart, you can see that the GBP/JPY is making lower highs which adds additional p…
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EUR/GBP eyes descending trendline

EUR/GBP is enjoying fourth consecutive monthly green bar. The bulls are more optimistic then earlier in the year when the pair was trading in mid 70s. If you look at weekly chart, you will see the pair is already struggling to clear huge 200 WMA, which sits at 0.7930. The 200 WMA has proved to present a big resistance, as it kept the pair below since October 2015.
On a monthly chart, the pair is facing 55 MA as well as the falling trend line from the all time highs in 2008. The same trend line r…
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USD/JPY to break below 110

I expect USD/JPY to break below 110 on deteriorated risk appetite. As it can be seen on the Monthly chart, the pair near the recent lows and unable to retrace significantly. Next target is 38.2%, which comes at 106.60.
However, close look at the monthly chart (picture below) shows how big of a level can 109 prove to be. Back in 2006, this level held the fall from 119. Eventually, the pair collapsed all the way down to 95 in 2008. On the way back up, the resistance at 109-110 proved to be too bi…
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