GBP/JPY – Selling likely below 132.75

Daily chart

gbpjpy.jpg

Selling likely to gather pace below 132.75.. Also note such a move would also mark a failure to sustain above 132.80 (61.8% of 129.07-138.83).

Daily MACD has turned bearish as well. The cross could target 132.23 (Aug 5 low) and 131.37 (76.4% of 129.07-138.83)

 

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