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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 - Sharp Reversal

GBP/JPY is now bouncing back towards 185.00. Hourly resistance lies at 187.64 (28/08/2015 high). Key resistance can be found at 195.88 (24/06/2015 high). However, we remain bearish on the pair as the technical structure suggests a downside momentum.

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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