GBPJPY retreats sharply; maintains short-term bearish bias

GBPJPY plunged below the 38.2% Fibonacci retracement level of the downleg from 153.80 to 143.20, around 147.25, which overlaps with the 40-simple moving average in the 4-hour chart. The aggressive bearish rally started during yesterday’s session and has shifted the near-term bias from positive to…

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