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GBPJPY: Slow sorting and moving up of multiple headers

2022-09-20
1156
Fundamental analysis:

The pound remained volatile against the yen at 163.501. The market expected that the British government would need to issue more bonds than previously expected to fund additional expenditure, which means that it is very likely that it will have to pay higher debt servicing costs.


GBPJPY - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the short power fluctuates downward, starts to reorganize after being supported in the short term, and the long power waits for an opportunity to enter the market. The MACD indicator stays in the short area and maintains a slow upward consolidation, while the RSI indicator stays in the short area and maintains a weak upward movement;


Empty turning point: 163.268


Pressing position: 164.018, 164.514


Support position: 162.797, 162.365


Trading strategy: bullish above 163.268, target 164.018, 164.514


Alternative strategy: 163.268 lower bearish, target 162.797, 162.365

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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