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May 20, 2012

GBPJPY: Takes out the 127.08 level, set to weaken further

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GBPJPY – With the cross violating its key support located at 127.08 level to close lower the past week, further declines are expected in the new week. Further down, support lies at the 124.50 level and then the 122.02 level, its Jan 25'2012 high. Its weekly RSI is bearish and pointing lower... FF News: Technical

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