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GBP/JPY falls closer to 190 now - remember the comments earlier?
In earlier updates today, the fact that a major player was now advocating a fall to 180 in the GBP/JPY was mentioned here. Well, as the GBP/USD drops back from an earlier high near 1.2550, close to 1.2500 just now, the GBP/JPY has come under further pressure. That is also as the USD/JPY falls below 152.20 a short while ago. So, inn essence you have both elements of the cross rate moving in the same time. That means the GBP/JPY has now extended its fall on the day and it approaching the 190 handle. The high seen much earlier today was set at 192.77 and it had closed last night at 192.61. The low seen so far has been set at 190.36. So, is this call for 180 correct? Well, as noted here earlier, this is not coming from this analyst. The reader is just alerted to what is out there and so far this call from a leading player has surely played out just as they would have liked
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