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GBPJPY: high downside

Fundamental analysis:

GBP/JPY remained volatile around 161.879 as British opposition Labor Party leader Keir Starmer delivered a speech in Manchester, outlining his five "mission" goals for voters as Labor's candidate in the next general election.

British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term momentum continues to fluctuate and move down, the short-term decline has not stopped, the market's short-term sentiment continues to decline, the MACD indicator is in the bullish area, and the RSI indicator is hovering weakly below the 50 balance line;

Long-short turning point: 162.052

Suppression: 162.437, 162.833
Support: 161.500, 161.139

Trading strategy: bearish below 162.052, target 161.500, 161.139
Alternative strategy: call above 162.052, target 162.437, 162.833

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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