GBPJPY (long-term) | More reasons to short than to long

The currency pair is currently ranging in a trend, however the bearish trend seems to be becoming more powerful. Long-term and short-term Fibonacci lines confirm the possible movement of 9000-11000 pips downwards to the 135.00 region, whilst profits can be taken at intersecting Fib lines. Alternatively, the currency pair could continue to range, reach the 100% intra-day Fibonacci level @ the 158.00 region AND THEN sell downwards.

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