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Breaking out of the wedge BUY $GBPJPY

FX:GBPJPY   英镑/日元
GBPJPY             is massively oversold. We expect it to breakout of the wedge and start heading upwards and show some respect for the better than expected CPI             news out of Britain today. I think this it is still lingering around because we have the CPI             announcements for US tomorrow and that will determine the direction of $USDJPY             . However, I think the worst case scenario could be retest of $148 level. Best case scenario will be it continuing the climb with a strong bounce from here. Good luck!
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