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    GBP/JPY: technical analysis on 07.10.2015

    On the daily chart, the RSI and Composite are about to start diverging but have not formed a clear divergence yet. Their MA’s however are forming a bullish signal indicating a strength of the market. The Composite is approaching its resistance and will soon test it. The price is heading towards the middle MA of Bollinger Bands that is almost overlapping with the trend line at about 184.25 creating a fairly strong resistance level. 


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