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Short

GBPJPY faces strong resistance around 195,good to sell on rallie

FX:GBPJPY   British Pound/Japanese Yen
177 0 3
Candle stick pattern- Bearish engulfing

GBP/JPY             has made a high of 194.58 yesterday and retreated from that level. It is still weak as long as resistance 195 holds.

Any break above major resistance targets 195.85/196.

On the downside major support is around 193 and any break below will drag the pair further down till 192/191.

Bullish invalidation only below 190.50.

It is good to sell on rallies around 193.75-80 With SL around 194.70 for the TP of 192/191.10.
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