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GBP/JPY tests the 154.00 area

FXstreet.com (San Francisco) - The Sterling is extending its recovery from 151.80 against the Japanese Yen and after a brief pause at 153.50, the GBP/JPY has extended its advance to test levels above the 154.00 area.

However, the pair has been unable to holds prices above it and currently the GBP/JPY is pricing at 153.80, 0.85% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minutes chart.

Indicators such as CCI and Momentum are pointing to the south while the MACD and CCI are neutrals. Above the 154.00 area, next resistances are at 154.55 and 155.10. On the downside, supports are at 153.60, 152.70 and 151.80.

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