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May 31

TECHNICAL ANALYSIS BY NSFX 31.05.2015

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Last Friday the rate made a bullish spike just above the medium term resistance after it made a pullback at the breakout level 189.6. The pair might rise above 190.6 and then reach area 195. The psychological target 200 can be reached, considering that the range generated last December  was of 1400 pips, and after the breakout  a price projection level is even above 200. The framework will be bearish only below 176, but to reach this level GbpJpy has to test 185 and then the 200SMA, now at 181.37

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