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GBPJPY: sorting out high position and weak position

Fundamental analysis:

Sterling kept fluctuating around 166.033 against the Japanese yen. The British National Bureau of Statistics said that the number of employed people increased by only 40000 from May to July, less than one third of the increase expected by economists, who had predicted that the unemployment rate would remain at 3.8%.

Gbpjpy - 4-hour K-line chart shows:

Technical analysis:

From the 4-hour chart, we can see that the multi headed ladder shock moves upward, the high-level short-term weak consolidation, the MACD index is in the multi headed region to maintain consolidation, and the RSI index is in the 50 equilibrium line side to narrow consolidation;

Empty turning point: 166.180

Pressing position: 166.676, 167.134

Support position: 165.584, 165.214

Trading strategy: 166.180 lower bearish, target 165.584, 165.214

Alternative strategy: bullish above 166.180, target 166.676, 167.134

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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