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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 - Consolidating

GBP/JPY is consolidating below 195.84 (year high). Hourly support is given at 188.98 (10/06/2015 low). Key resistance is given at 197.45 (26/09/2008 high). There is no downside pressure at the moment. We expect the pair to approach the key resistance at 197.45 (26/09/2008 high).

In the long-term, the lack of any medium-term bearish reversal pattern favours a bullish bias. The successful test of the strong support at 175.51 (03/02/2015 low) signals persistent buying interest. Key resistances stand at 197.45 (26/09/2008 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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