IlyaSpivak

GBPJPY breakdown in the works?

Short
FX_IDC:GBPJPY   British Pound / Japanese Yen
GBPJPY has extended lower after being rejected at familiar resistance clustered around the 158.00 figure. Slipping below support centered on the 156.00 mark may have set the stage for an decline toward the 154.17-64 area. A test below the 153.00 handle may follow thereafter if a breach of support is confirmed on a daily closing basis.

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