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    Technical analysis of GBP/JPY for November 27, 2015

    GBPJPYM30.png

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    Trading recommendations:

    The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 186. A break of that target will move the pair further downwards to 186.55. The pivot point stands at 185.50. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 184.65 and the second target at 184.30.

    Resistance levels: 186 186.55 187

    Support levels: 184.65 184.30 183.85


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