GBP/USD had a volatile session on Wednesday, failing to decisively break above the 1.59 level. However, we think this pair is still bullish, and we are simply seeing a bit of accumulation before the next move higher. There are things to watch from the downside though.
The USD/JPY formed a small hammer on Wednesday, and looks likely to bounce again. The current area seems to be solid, and the Bank of Japan is more than likely involved. Because of this, we are only buying this pair at the moment.
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