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GBPJPY: continuous downlink

2022-11-14
1120
Fundamental analysis:

The pound remained volatile against the yen at 164.121. The annual GDP rate of the UK recorded 1.3% in September, the smallest economic growth rate since March 2021. The data marks the first quarterly drop in UK GDP since the first quarter of last year, and another round of epidemic blockade measures in the first quarter of last year dragged down economic activities.


GBPJPY - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the bearish momentum continues its downward trend and continues to fluctuate downward. The short-term decline has not stopped. The bearish sentiment in the market is good. The MACD indicator continues to move downward in the bearish area and the RSI indicator continues to fluctuate in the bearish area;


Empty turning point: 164.377


Pressing: 164.943, 165.493


Support: 163.610, 163.110


Trading strategy: bearish at 164.377, target 163.610, 163.110


Alternative strategy: bullish on top of 164.377, target 164.943, 165.493

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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