GBPJPY – Dip buying

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Monthly: Broken out of the channel formation to the downside. However, all the initial losses have been recovered. We are likely to post a Bullish Hammer formation for January. One bearish note, we have stalled at the reverse trend line resistance of 143.80 Weekly:  Could be seen as an Expanding Wedge formation. A break of trend line resistance at 147.40 and the measured move target is 156....

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