Instrument: GBP/JPY

After a long rally in the Pound Yen pair last week, there seems to be a technical correction. Reversal pattern was seen at the top with momentum and moving average confirming a possible downtrend.

Take profit 1 : 146.62
Take profit 2 : 145.16
Stop loss : 148.12


The Weekly Chart also confirms the down trend in the pair and is expected to continue.
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