Wednesday, October 23, 2019
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Technical Analysis – GBP/JPY bias tilted to the downside

GBP/JPY bias tilted to the downside; bears likely waiting below 130.68. GBP/JPY has been drifting below two-month highs after failing to close above the 135.50 resistance area. The pair could follow a neutral-to-bearish direction in the short-term as the RSI is sloping downwards to meet its 50 neutral level and the MACD is extending negative momentum below its red signal line. Yet,

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Technical Analysis – GBP/JPY bullish vibes still evident

GBP/JPY topped September’s rally at a familiar place of 135.64 on Wednesday and reversed lower to retest the 20-period simple moving average (SMA) in the four-hour chart. Given that the RSI is hovering slightly above its 50 neutral level and the red Tenkan-sen line has flattened above the blue Kijun sen, the risk in the short-term

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Technical Analysis – GBP/JPY corrects Tuesday’s damages

GBP/JPY corrects Tuesday’s damages but still exposed to downside risks. GBP/JPY recouped Tuesday’s downfall that led the price near the almost three-year low of 126.53 and the Doji candle registered early in August. The positive movement, however, remains fragile and the market is still exposed to downside risks as the RSI continues to

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