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GBPJPY: short-term upside

Fundamental analysis:

GBP/JPY remained volatile around 163.135, and the average annual salary rate in the UK in the three months of January excluding bonuses fell to 6.5%. Job vacancies fell by 51,000 in the quarter ended in February.

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

Brief technical analysis:

Looking at the 4-hour chart: the momentum of the bulls remains volatile and rising, the short-term bullish sentiment continues, the bulls in the market are constantly moving upwards, the MACD indicator is hovering above the 0 axis, and the RSI indicator is finishing above the 50 balance line;

Resistance levels: 163.486 163.826

Support levels: 162.613 162.239

Trading strategy: Bullish above 162.953, target 163.486 163.826
Alternative strategy: bearish below 162.953, target 162.613 162.239

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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