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FxWirePro:GBP/JPY struggles to break below 55- day EMA, good to buy on dips

  • Pattern formed – Triple bottom (Near 141)
     
  • Major resistance - 142.45 (trend line joining 144.78 and 144.69)
     
  • Major Intraday support – 141 (55- day EMA)
     
  • GBP/JPY has once again declined after declining till 141.19 at the time of writing. It has taken support near 55- day EMA and minor weakness can be seen only below that level.
     
  • The pair is facing strong trend line resistance at 142.45 and any close above targets 144.13 high made on Feb 1st 2017/144.78 (Jan 27th 2017 high).
     
  • On the lower side, any break below 140.95 (Feb 14th low) - 141 will drag the pair till 139.58 (200- day MA).


    It is good to buy on dips 141.85-141.90 with SL around 141 for the TP of 144.13/144.78.
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Fintech Week Chicago

April 26 01:30 UTC Released

AUCPI Index Number*

Actual

110.5 %

Forecast

Previous

110.0 %

April 26 01:30 UTC Released

AURBA Weightd Medn CPI YY*

Actual

1.7 %

Forecast

1.8 %

Previous

1.5 %

April 26 03:30 UTC 8989m

IDFDI Growth YY*

Actual

Forecast

Previous

2.10 %

April 26 03:30 UTC 8989m

IDFDI Growth YY*

Actual

Forecast

Previous

2.10 %

April 26 06:45 UTC 284284m

FRCPI Index Number*

Actual

Forecast

100 %

Previous

100 %

April 26 06:45 UTC 284284m

ZAPPI YY*

Actual

Forecast

100 %

Previous

100 %

April 26 06:45 UTC 284284m

ZAPPI MM*

Actual

Forecast

100 %

Previous

100 %

April 26 08:30 UTC 389389m

TRO/N Lending Rate*

Actual

Forecast

Previous

5.60 %

April 26 08:30 UTC 389389m

TRPPI YY*

Actual

Forecast

Previous

5.60 %

April 26 09:30 UTC 449449m

ZAPPI MM*

Actual

Forecast

Previous

0.60 %

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