GBP/JPY has been depreciating steadily since mid July. Last week it has consolidated around 141 and tested support just below 140. During this consolidation it has formed a flag and today it has broken out of by sharply appreciating. It has jumped well above 142. I think this is an impulse showing the upcoming trend. I think further appreciation will follow and in the beginning it may be as sharp as today. Bullish.
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