GBP/JPY pair is now in a tight consolidation.
There is a battle going on at 200 EMA level. it would be very difficult for buyers to break that levels of enormous resistance.
In addition sellers are so confident because they also have Fibonacci 0.618 level to back them up.
Waiting for a solution of this very tight battle. Sellers have all the arguments, but buyers somehow don't give up yet...
Friday, September 14, 2007
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