After the unsuccessful break of the 1.3020 resistance level, the correction reached 1.2879. My outlook though remains bullish, for a break through 1.3020 static resistance, en route to 1.3170 high. Crucial on the downside from an intraday point of view is 1.2874, as a violation of that level will signal, that the whole rise from 1.2736 is complete.
USD/JPY
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Probably the consolidation pattern below 82.82 high is already over with the recent low at 81.67 and a break through 82.62 will confirm that the uptrend is renewed towards 84.80. The major intraday support is projected at 81.60.
GBP/USD
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My outlook remains positive, for a break through 1.6050 high, en route to 1.6175 major resistance. Key support on the downside is the 1.5960-70 zone.