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Forex Trading: GBPJPY breaks through trendline support at 202.93

Posted by Greg Michalowski on Thu, 05/08/2008 - 10:44am in

The GBPJPY has been under pressure as  risk trades are being liquidated.  On the chart the 100 day moving average was held.  Today, the trendline was broken at the 202.93.   Intraday traders will be watching the level to see if the trend lower can continue.