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Gbpjpy: bearish wide range shock down
2022-08-23
1218
Fundamental analysis:
Sterling fluctuated around 161.596 against the Japanese yen, and the situation in Britain, the world's fifth largest economy, continued to deteriorate. The Bank of England warned this month that the British economy will shrink for 15 months from the end of this year, which is worse than the prospects of other large European economies and the United States.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short-term trend may continue, the short-term trend may continue, the market short-term sentiment will continue, the MACD index is hovering at the lower side of the 0 axis, and the RSI index is at the lower side of the 50 equilibrium line;
Long and short turning point: 161.728
Pressing position: 161.995, 162.292
Support position: 161.323, 161.077
Trading strategy: bearish below 161.728, targets 161.323 and 161.077
Alternative strategy: bullish above 161.728, target 161.995, 162.292
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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