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GBPJPY Weekly Technical Outlook | December 20, 2014



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GBPJY formed a long legged pin bar. It rejected from near-term support area. So it got back bullish momentum again. We saw some crazy movements on this pair. Finally it back in its bullish rally. Next target will be 190. It is better to buy from retracement in this pair. Buying zone lies on 185 area. So buyers can take buy entry from this zone and target will be towards 190 area.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 190.81

Resistance One (R1): 188.74

Pivot Point: 185.17

Support One (S1): 183.10

Support Two (S2): 179.53


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