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GBP/JPY momentum switched to negative

Increased downward momentum in the GBP/JPY has brought the 4hr MACD to step in the red zone.

This technical condition would certainly not be of much help if the MACD hasn't been under zero for at least one week of trading. This reinforces the argument that room for further GBP/JPY depreciation is there.

The signal may be either taken by trend-following traders as a trigger to liquidate long positions as by potential sellers to prepare their short commitments.

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USD/CHF hits 2 ½-month highs above 0.9850

USD/CHF consolidates near 2 ½-month highs on Tuesday despite the latest string of US data came on the soft side one day ahead of the Federal Reserve monetary policy decision.
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