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Gbpjpy: wide range oscillation moving up
2022-09-02
977
Fundamental analysis:
Sterling fluctuated around 161.799 against the Japanese yen. The British Conservative Party will elect a new leader, that is, the new Prime Minister of the United Kingdom. The election results will be announced next Monday. Some economists are worried that the huge tax cut promised by the leader, trass, may bring greater pressure on public finance at a time when the debt service cost of government bonds increases.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short-term wide range consolidation and translation, the market bulls have signs of re entering, the MACD index is at the lower side of the 0 axis, and the RSI index is at the narrow range consolidation near the 50 equilibrium line;
Long and short turning point: 161.688
Pressing position: 162.016, 162.252
Support position: 161.451, 161.221
Trading strategy: bullish above 161.688, target 162.016, 162.252
Alternative strategy: bearish below 161.688, target 161.451, 161.221
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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