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GBPJPY - The risk-averse theme on extended......>

YEN
YEN: GBPJPY - The risk-averse theme on extended react to Friday's President
Trump trade tweets pressured to multi-year lows of 126.55 in early Asia, before
risk recovered after the stronger-than-expected PBoC yuan fix. Sterling remains
on the defensive with next support seen at Y126.49 from the Nov 3 2016 low,
expect protection behind on approach to the Y126.00 level.
- GBPJPY has now registered losses in nine of the last eleven sessions and is
currently trading a Doji star candle pattern. Momentum and trend indicators
remain extremely stretched with an RSI reading of 18.25.

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