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GBPJPY: Narrow finishing

Fundamental analysis:

The pound remained volatile against the yen at 166.263. The UK may have fallen into recession, and the 11% inflation rate has caused the cost of living crisis. The UK is the only country in the Group of Seven (G7) whose economic scale is still lower than that before the epidemic, and the income growth in the previous decade has almost stagnated.

GBPJPY - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that the low position weak position has slowly moved up, the short-term bullish mood has started to move up, the MACD index is in the weak position hovering near the 50 equilibrium line, and the RSI index is in the weak position near the 50 equilibrium line;

Empty turning point: 166.016

Pressing: 166.866, 167.417

Support: 165.465, 164.914

Trading strategy: bullish above 166.016, target 166.866, 167.417

Alternative strategy: 166.016 bearish, target 165.465, 164.914

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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