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GBPJPY: shock down

2023-01-13
1083
Fundamental analysis:
GBP/JPY remained volatile around 157.887 as the European Union and the United Kingdom enter the final stage of negotiations next week with the aim of resolving the many post-Brexit conflicts over trade issues before the first anniversary of the signing of the Northern Ireland peace agreement in April next year.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term dynamics remain volatile and downward, the market is shrouded in bearish sentiment, the short-term decline may continue, the MACD indicator is slowly moving down below the 0 axis, and the RSI indicator is in the short-term area. Low and weak downward;
Long-short turning point: 158.142
Suppression: 158.584, 159.039
Support: 157.432, 156.924
Trading strategy: bearish below 158.142, target 157.432, 156.924
Alternative strategy: Bullish above 158.142, target 158.584, 159.039

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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