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GBPJPY: High Short Downlink

Fundamental analysis:

The pound remained volatile against the yen at 164.845, and inflation in the UK declined, but still exceeded the desired level of the Bank of England. The deadly combination of higher inflation and weaker job applicants will continue to cause more trouble for the Bank of England.

GBPJPY - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that the momentum of high short positions has slowly moved downward, and the market short positions are beginning to be shrouded. The MACD indicator is in the slow downward trend of long positions and the RSI indicator is in the weak position below the 50 equilibrium line;

Empty turning point: 165.010

Pressing position: 165.481, 165.926

Support position: 164.438, 163.993

Trading strategy: 165.010 lower bearish, target 164.438, 163.993

Alternative strategy: bullish above 165.010, target 165.481, 165.926

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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