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GBP/USD eyeing 1.5100 – CharmerCharts

FXStreet (Barcelona) - Carol Harmer of CharmerCharts, maintains a bullish outlook on GBP/USD as long as the pair remains above 1.4900, and holding above 1.4900 will pave way for 1.5100 levels.

Key Quotes

“Cable still overbought on the daily charts, however, short term charts have eased the severe overbought conditions and now look like they should point higher, which would give Cable a boost today.”

“We have good support down at the 1.4990 area, and if we can hold this we should be able to break the 1,5100 barrier and keep trading higher to 1.5139 initially with potential for the 1.5155/70 resistance.”

“Downside should be limited to 1.4943 to 1.4915 and we would be buyers on any such pullback to these lower levels.”

“Hold longs unless a break is posted below 1.4900.”

USD/JPY hits fresh highs above 120, US data eyed

The US dollar extends beyond 120 barrier versus the yen, driving USD/JPY higher to fresh session highs, as traders preferred to hold the reserve currency ahead of a set of macro data releases from the US later in the session.
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‘Japan is steadily wiping out a deflationary mindset’ – BOJ’s Kuroda

Japanese trend inflation is rising steadily as a moderate recovery is taking hold in the country, Bank of Japan (BOJ) Governor Haruhiko Kuroda reiterated when he appeared before Japanese Parliament today.
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