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Alert - 15:00 (CET) - WINNER OF THE SESSION: Yen advances 4.3% against the Sterling
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The GbpJpy is trading at 140.54, ranging from 140.29 to 147.12, under yesterday's close at 147.58. In the hourly graphics, we see that the 20- and 50-day Exponential Mobile Averages (EMA) are umder the 200-day EMA.
Having broken the 150 yen support, and 143.76 (November 25th low), the traders are watching the next at 140.00 and 137.69 (November 20th low). The resistances at 151.09 (October 24th high), 160.68 (October 23rd high) and 166.64 (October 22nd high) are being watched.
Given the recent vulnerabilities in the stock markets and the perspectives of rate cuts by the BoE next Thursday, the investors are going back to the Japanese safe haven. This session, it has advanced 4.73% against the Sterling.
Checking the daily graphics, the current price is under the 23.60% (233.01) and over the 0.00% (128.44) Fibonacci Retracement lines. The Bands of Bollinger show a volatility of 700 pips and the 60-minute Relative Strenght Index (RSI) ist at 14 points, extremely oversold.
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