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GBPJPY: High bit uplink

2022-11-24
1173
Fundamental analysis:

The pound remained volatile against the yen at 168.281. The OECD forecast of the growth rate of the British economy from 2022 to 2024 is similar to that of the independent British Office of Budget Responsibility (OBR), but it expects a mild recession of 0.4% next year, but a growth of 0.2% in the following year. The OBR expects a deeper recession and a stronger rebound in the British economy.


GBPJPY - 4-hour K chart shows:




Technical analysis:

The 4-hour chart shows that the bullish trend is good, the short-term bullish sentiment continues to move upward, the MACD index is at the high level of the bullish region, and the RSI index is at the upper side of the 50 equilibrium line;

Empty turning point: 168.042

Pressing: 168.677, 169.090

Support: 167.663, 167.272

Trading strategy: bullish above 168.042, target 168.677, 169.090

Alternative strategy: 168.042 lower bearish, target 167.663, 167.272

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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