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22 NOV 16 UPDATE ON GBPJPY

Hello fellow traders,
Yesterday we talked about rejection of GBPJPY at 138.77 levels. Today once again the pair has been rejected at 138.83 making a
double top pattern and thus confirming that this is a good supply zone. I am short from yesterday at 138.415 with stop loss 139.000
and take profit at 136.000.
DAILY CHART
4H CHART
Once interesting fact is that the line joining the previous highs is still near 142.000 levels from where we can see a huge supply. On
4 Hour chart the price has started …
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21 NOV 16 GBPJPY MEETS PREVIOUS HIGH

Hello fellow traders,
GBPJPY along with other majors have beaten yen down and reached previous high of 138.77 zone. Here we may see supply and price may fall but seeing the huge momentum nothing can be said for sure. More aggressive traders may sell here with stop above 139.50 and may target 132.50. But till the time of writing this post there was no sign of any price action in favour of sell. So wait and let the candlesticks to confirm a sell. if the price is able to break above this zone then …
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