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GBP/JPY Daily Outlook

Short
British Pound / Japanese Yen (FX:GBPJPY)  
FxWirePro  
FX:GBPJPY   British Pound / Japanese Yen
2
0
GBP/JPY has formed Head and shoulder pattern in the hourly chart. The 177.70 is major support (neckline) and any break below will take the pair once again to 175.50.

The minor resistance is around 178.50 (Right shoulder) and break above will target 179.25/179.40.

Recommendation: Sell GBP/JPY around 178.20, SL 178.51, Targets 177.70/175.60.
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