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Gbpjpy: high level narrow range finishing

2022-09-09
991
Fundamental analysis:

GBP / JPY fluctuated around 165.748, and new British Prime Minister truss will explain to Parliament the new government's plan to solve the soaring energy bills. During the election campaign, truss has repeatedly said that promoting domestic energy supply will be one of her priorities in seeking to reduce prices.


Gbpjpy - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, after the rapid pull-up of the bull power, the high narrow range consolidation and translation, the market bull pull-up power began to weaken, the MACD index was in the bull region consolidation, and the RSI index was in the bull region to maintain a weak hover;


Long short turning point: 165.474


Pressing position: 166.155, 166.527


Support position: 165.102, 164.719


Trading strategy: bullish above 165.474, target 166.155, 166.527


Alternative strategy: bearish below 165.474, target 165.102, 164.719

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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