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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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GBP/JPY - Retesting Old Declining Trendline

GBP/JPY is moving toward support which if successful would increases the likelihood of further medium-term strength. Break of declining trend line has improve the short-term technical structure proving scope for a challenge to resistance at 185.03 (27/02/2015 high). Supports lies at 181.75 (declining trendline) and 179.32 (23/04/2015 low)

In the long-term, the lower high made on February 2015 suggests a weakening uptrend. However, the successful test of the strong support at 175.51 (03/02/2015 low) signals persistent buying interest. Key resistances stand at 185.03 (26/02/2015 high). A major support area can be found between 169.51 (11/04/2014 low) and 167.78 (18/03/2014 low).

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