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GBPJPY: Move Multiple Heads Up

2022-11-21
1128
Fundamental analysis:

The pound remained volatile against the yen at 166.913. Investors were worried about the budget proposal of British Chancellor of the Exchequer Hunter, including tax increases and tightening public spending, to drive inflation to cool down and reshape Britain's economic reputation.



GBPJPY - 4-hour K chart shows:



Technical analysis:

The 4-hour chart shows that the bullish momentum has maintained a slow rise in volatility, the short-term bullish sentiment has continued, and the market bullish trend is good. The MACD index is arranged on the upper side of the 0 axis, and the RSI index is hovering on the upper side of the 50 equilibrium line;

Empty turning point: 166.699

Pressing: 167.417, 167.862

Support: 166.228, 165.661

Trading strategy: bullish above 166.699, target 167.417, 167.862

Alternative strategy: 166.699 bearish, target 166.228, 165.661

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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