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GBPJPY: Low level ladder vibration rising

2022-09-29
1196
Fundamental analysis:

The pound remained volatile against the yen at 156.834. The yield of UK two-year bonds fell by 32 basis points, the largest drop since 2008. The UK 30-year bond yield has exceeded 5% for the first time since 2002. The UK 10-year bond yield rose to a new high of 4.377% since the end of 2008, up 12 basis points during the day.


GBPJPY - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the low bulls' momentum keeps moving up slowly, short-term bulls' sentiment emerges, market buying starts to enter the market, MACD indicators stay in the short positions and keep sorting up, while RSI indicators stay in the weak positions near the 50 equilibrium line;


Empty turning point: 156.346


Pressing position: 158.013, 159.367


Support position: 155.200, 154.089


Trading strategy: bullish above 156.346, target 158.013, 159.367


Alternative strategy: 156.346 lower bearish, target 155.200, 154.089

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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