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GBPJPY: high and volatile

2022-11-28
1179
Fundamental analysis:
GBP/JPY remained volatile around 168.095, the Office for National Statistics: The annual producer input inflation rate in October was revised to 19.5%, compared with the previously announced value of 19.2%, and the peak UK producer output inflation in July 2022 was revised to 19.7 %, annual producer output price inflation in October now stands at 17.2%, compared with an earlier estimate of 14.8%.

GBPJPY GBPJPY - 4-hour candlestick chart shows:



A brief technical analysis:
From the 4-hour chart: the high level has a short-term fluctuation and then retreated after encountering resistance. It has not yet broken through the previous high position in the short term. The MACD indicator is hovering on the upper side of the 0 axis, and the RSI indicator is on the weak side of the 50 balance line;
Long-short turning point: 167.951
Suppression: 168.424, 168.813
Support: 167.422, 167.054
Trading strategy: bullish above 167.951, target 168.424, 168.813
Alternative strategy: bearish below 167.951, target 167.422, 167.054

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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