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GBP/JPY Approaches Key Resistance

GBP/JPY (a daily chart of which is shown) as of Wednesday (11/03/2010) has risen to approach a key resistance confluence. This confluence consists of the important 132.00 support/resistance level and the long-term downtrend resistance line (part of a parallel downtrend channel) extending from the August 2009 high. For more GBP/JPY forex technical analysis, please click here.

James Chen, CTA, CMT