Breach of important price line imminent by GBPJPY

GBPJPY is moving towards a line of 166.9750 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If GBPJPY continues in its current trajectory, we may see it move towards 166.9750 within the next 2 days.

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