Backdrop: GBP/JPY has been choppy throughout 2014, but we can see a bullish bias to this madness. In fact, there has been higher lows and a fresh high on the year at 175.36 in July. But after that, price have been mainly bearish. Price came down to test the 200-day simple moving average for the first time November 2012, during August. Price bounced off the 200-day SMA and headed higher, signaling bullish continuation with a break above the 100-day and 50-day SMAs and more importantly ...
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