Saturday, May 31, 2014

GBP/JPY Weekly Outlook

GBPY/JPY edged lower to 169.53 last week but again quickly recovered. Initial bias is neutral this week first. As long as 171.97 resistance holds, deeper decline is still expected. Such fall is possibly part of the consolidation from 174.84. Break of 169.50 will confirm this case and target 167.77 and



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