GBPJPY is gaining after pound got stronger in which helped yesterday’s data from job market and weak data from US. Currently we are 360 pips above yesterday bottom and this pair is getting stronger and stronger. The closest target is 60 pips higher – both for bulls and bears. This is 61.8% expansion level and it is right to “half of the figure” – 188.50. We are expecting reaction of bulls in this place, but there is key question – is this reaction strong enough to stop this massive gain? Breaching this level will be also important information. Another technical resistance is in Pivot R2 area at 188.90-189.00.
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