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The Trend of the Day - GBP/JPY
Thursday, 17 September 2009 11:33:00 GMT  |  Gregory McLeod, Power Course Instructor
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Pound Yen Bulls have Reasons to Cheer

Though the previous Double Top that started in June and led to a 1400 pip slide from the August 7th high of 163.07 to lows in the 149.00 is short term bearish, the there are reasons for bulls to be encouraged. A Double Bottom in an uptrend above the 200 Moving average in a Fibonacci support zone is a recipe for continued prices heading higher.


ToD-GBPJPY

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