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YEN: GBPJPY - Having earlier in the week held above descending channel
resistance turned support at Y146.25 we noted daily indicators were highlighting
outright bullish signals (MNI Analysis - GBPJPY Bullish Breakout), targeting a
break of the 200-dma and key Y150.00 psychological level. Risk appetite has
spilled over into Europe with the cross touching fresh weekly highs of Y149.71.
A break of the Y150.00 level is likely to accelerate the move toward the Apr13
high at Y153.85. Last Y149.40/45.