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GBPJPY: High surge

Fundamental analysis:

GBP/JPY remained volatile around 163.411. British manufacturing output and orders fell in February, and price pressures cooled again. Manufacturing conditions remain challenging, with output disappointing and order intake falling since late last year.

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

Brief technical analysis:

The 4-hour chart shows that the momentum of high-level bulls is rising rapidly, short-term high-level consolidation, the market is still bullish, and short-term bulls continue to move upwards. The MACD indicator is in the bullish zone and slowly rising, and the RSI indicator is in the bullish zone. High overbought zone below the 80 equilibrium line side wandering;

Long-short turning point: 161.207

Suppression: 163.753, 164.100
Support: 162.860, 162.473

Trading strategy: Bullish above 161.207, target 163.753, 164.100
Alternative strategy: bearish below 161.207, target 162.860, 162.473

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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