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GBPJPY H4 Chart Technical Overview and Trade Opportunity

GBPJPY H4 Chart Technical Overview and Trade Opportunity

Japan CPI and Labor data have been released early today during the Asia session.

Inflation figures came out better than expected while production and labor data was below the expectations.

Sterling bulls are focused on having positive Brexit news.

Technically, GBPJPY tested 143.700 key support and reversed. The triple bottom can be emerging.

The downside is capped by SMA 100 on Daily Chart.

Yesterday we entered a long trade with intermediate-term purposes.

Positional traders may take the following trade:

Trade: Long

Entry: 144.100

Stop: 143.600

Target 1: 144.500

Target 2: 144.900

We will add long at the breakout of 144.950. Our intermediate-term targets:

Target 1: 145.500

Target 2 146.090



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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

GBPJPY: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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