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Sep 19

TECHNICAL ANALYSIS BY NSFX 19.09.2013

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After the cross rate traded in a range for six trading session yesterday breakout accelerated the pair to the 162 target price. Above that level the target would be 166, where GbpJpy traded for the last time during the financial crisis in October 2008. Only a retracement below the middle of the trading range 156.72-146.71 could change the bullish scenario and reduce risk appetite.

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