An increase in volumes yesterday marked the highest level of activity so far this month. A near-term topping signal emerged in GBP/JPY. The low close after an initial rally, along with volumes above the 20-day average, points to a pullback within range. A topping candle in EUR/JPY, along with increased volume, signals a pause in the underlying up-move. Bearish days in EUR/SEK over the past week have attracted above-average volume, signalling appetite to sell.
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Barclays Capital