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GBP/JPY: Brexit, coronavirus challenge bulls above 151.00

GBP/JPY: Brexit, coronavirus challenge bulls above 151.00
fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.

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USD/JPY Weekly forecast: A long expected party

1/29/2021 4:18:41 PM GMT
USD/JPY breaks out of seven-month descending channel.
Trading at 2021 high, returns to the level of early November.
USD/JPY moves through the 21-day and 100-day moving averages.
Fibonacci 50% line next important resistance above market.
FXStreet Forecast poll predicts a resumption of the downtrend
The USD/JPY moved sharply higher this week breaking the upper border of the descending channel that has contained trading for seven months. Aided by better than expected US Durable Goods data on Wednesday and the improving pandemic case and hospital rates the upper border of the channel at 104.00 presented little difficulty. The USD/JPY closed at 104.18 on Wednesday, consolidated on Thursday and resumed the its strong rise on Friday, ending the week at 104.70, its best finish since November 12. ....

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