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GBPJPY: up higher

2023-05-28
743
Fundamental analysis:

GBP/JPY remained volatile around 173.665, and the UK government bond market may have to rely on international investors to absorb the increased supply of government bonds from the UK Debt Authority and the Bank of England.

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



Brief technical analysis:

Looking at the 4-hour chart: the momentum of high-level bulls continues to rise, the short-term bullish sentiment is shrouded, the market bulls continue to rise, the MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is in the bullish zone and moves upward;

Resistance levels: 173.921 174.193

Support levels: 173.168 172.819

Trading strategy: bullish above 173.495, target 173.921 174.193
Alternative strategy: bearish below 172.819, target 173.168 172.819

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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