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Bank of Japan keeps policy unchanged, upgrades FY22 and FY23 inflation outlook to 1.1%

Forex: GBP/JPY Technical Analysis – Sellers Take Aim Below 167.00

Forex: GBP/JPY Technical Analysis – Sellers Take Aim Below 167.00

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • A bearish Three Inside Down candle pattern, negative RSI divergence hint at losses
  • Closing below 168.57 (rising trend line) exposes 166.88 (23.6% Fib ret.)
  • Resistance is at 170.05 (December 10 swing high)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Sellers Take Aim Below 167.00

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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