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GBPJPY: high order

2023-01-12
1050
Fundamental analysis:
GBP/JPY remained volatile around 160.912. The British Prime Minister's Office issued a statement saying that British Prime Minister Rishi Sunak and Japanese Prime Minister Fumio Kishida met at the Tower of London, during which they will sign a "significant" new defense agreement - the "Reciprocal Access Agreement" "(RAA). Britain will be the first European country to sign such an agreement with Japan.

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



Brief technical analysis:

Looking at the 4-hour chart: the high level is fluctuating within a narrow range, the upward trend of the market is still there, the MACD indicator is in the bullish zone, and the RSI indicator is hovering in a narrow range in the bullish zone;
Long-short turning point: 160.487
Suppression: 161.497, 162.249
Support: 159.735, 159.004
Trading strategy: Bullish above 160.487, target 161.497, 162.249
Alternative strategy: bearish below 160.487, target 159.735, 159.004

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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