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GBPJPY: V-shaped shock down

Fundamental analysis:

GBP/JPY remained volatile around 162.258, British Treasury: The sale of Silicon Valley Bank to HSBC was facilitated by the Bank of England, no taxpayers' money was involved, and customer deposits were protected. Today's announcement replaced the intention to apply to the court to sell Silicon Valley Bank (UK) Inclusion in Bank Insolvency Proceedings.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to fluctuate downwards, and after a short-term V-shaped reversal, it fluctuates again, the market is shrouded in bearish sentiment, the MACD indicator is finishing at the lower side of the 0 axis, and the RSI indicator is hovering weakly near the 50 balance line;

Resistance levels: 162.738 163.123

Support levels: 161.873 161.572

Trading strategy: bearish below 162.341, target 161.873 161.572
Alternative strategy: Bullish above 162.341, target 162.738 163.123

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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