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GBPJPY: Short finishing

Fundamental analysis:

GBP/JPY remained volatile around 163.353, and the UK 20-year government bond yield rose to 4.258%, the highest level since October 21, before falling back, up 1 basis point on the day.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum is weak and fluctuating downward, the short-term decline may continue, the market is in a weak downward trend, the MACD indicator is at a high level and fluctuates downward, and the RSI indicator is hovering below the 50 balance line;

Long-short turning point: 163.500

Suppression: 163.926, 164.353
Support: 163.007, 162.604

Trading strategy: bearish below 163.500, target 163.007, 162.604
Alternative strategy: bullish above 163.500, target 163.926, 164.353

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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