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GBP/JPY testing the long-term trendline – Varengold

FXStreet (Barcelona) - The Varengold Bank Research Team uses 4H charts to give the technical outlook and key levels for GBP/JPY.

Key Quotes

“The GBPJPY is in a very interesting point, moving above the 200 day moving average and testing the long-term trendline, coinciding with the 38.2% of move down from February 27th pretty bullish and should continue jumping, with two clear resistances above, 179.30, and 179.90, coinciding with the 50% of the mentioned move down.”

“Below the current level, the 177.25 should work as the closest support in case of failing break.”

BoJ considering lowering its inflation forecast? – Nomura

Yujiro Goto, FX Strategist at Nomura, comments that market speculation expects BoJ might lower its inflation forecast in the 30th April meeting, but Nomura expects an unchanged policy.
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EUR/USD retreats from 1.0775 highs

EUR/USD extends its recovery mode in the European session, reversing overnight losses, as the shared currency received further impetus from latest comments from ECB’s Coeure amid renewed broad US dollar sell-off.
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