Bullish traders are approaching a crucial level of resistance in the GBPJPY pair, currently trading at 181.341.

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• GBP/JPY bulls come up to test critical resistance.

GBP/JPY is testing a key resistance area following a break of daily structure as the following will illustrate:

As illustrated on the daily charts above, there is a break in market structure taking place and a correction back into the neckline of the M-formation that would be expected to act as resistance. A move back below the trendline support will possibly see a downside continuation taking place for the week ahead.

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