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FxWirePro: Sell GBP/JPY on rallies

  • First Candle stick – Doji (Nov 25th    2016) .
                          
  • Second candle stick- Closed well below the low of 1st candle.
     
  • The pair has formed temporary top around 141.74 and started to decline sharply from that level. It is currently trading around 139.
     
  • On the lower side, 138-138.19 (23.6% retracement of 126.70 and 141.75) will be acting as major support and any violation below will drag the pair down till 136/135 (Nov 17th low).
     
  • The pair minor resistance stands at 140 and any violation above that level will take the pair to next level at 141/141.75. Overall bullishness can be seen only above 143.25.

    It is good to sell on rallies around 139.25-30 with SL around  141 for the TP of 136/135
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