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bpjpy: short sellers fell sharply

2022-09-05
1052
Fundamental analysis:

GBP / JPY fluctuated around 161.303, and the new economy foundation (Nef), a British think tank, suggested that the Bank of England should adjust a plan aimed at encouraging banks to provide low interest loans to small enterprises, so as to ensure that capital intensive green projects will not lack investment due to rising interest rates.


Gbpjpy - 4-hour K-line chart shows:




Technical analysis:


From the 4-hour chart, it can be seen that there is a long-term wide shock, the bears are falling rapidly, the MACD index is in a weak shock near the 0 axis, and the RSI index is in the lower side of the 50 equilibrium line;


Long short turning point: 161.455


Pressing position: 161.674, 161.908


Support position: 161.090, 160.861


Trading strategy: bearish below 161.455, target 161.090, 160.861


Alternative strategy: bullish above 161.455, target 161.674, 161.908

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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