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GBP/JPY has tested 192.57 on Sep 1, 2008 which is a level not seen since March 17, 2008 at 192.56.  Should this level be broken I believe we can see lower levels.  Should this level hold as the bottom from the move at 215.82 July 24, 2008 Look for a retracement back up to 201.40 which is 38.2% Retracement, onward to 204.16 (50%) and up to 206.93 (61.8%)