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Selling rallies on GBPJPY

GBPJPY - Intraday - We look to Sell at 163.00 (stop at 163.90)

We are trading at oversold extremes. A higher correction is expected. With the Ichimoku cloud resistance above we expect gains to be limited. Preferred trade is to sell into rallies.

Our profit targets will be 160.40 and 158.70

Resistance: 162.15 / 163.70 / 165.60
Support: 160.60 / 158.70 / 155.60

Risk Disclaimer

The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

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Chart PatternsGBPGBPJPYTechnical IndicatorsjpysterlingsterlingyenTrend Analysisyen

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