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GBPJPY: low volatility

2022-12-22
1155
Fundamental analysis:
GBP/JPY remained volatile around 159.911. Drivers of 15 British train companies will go on strike on January 5, 2023. The strike is part of an ongoing dispute over pay. The strike action will cause "service interruptions on the affected lines". Wider strikes have also been announced in other industries demanding higher wages amid soaring inflation and living costs.

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



Brief technical analysis:
Looking at the 4-hour chart: The short-seller dynamics remain low and fluctuate, the market as a whole is in the low-level consolidation, and may remain in a narrow range in the short term, the MACD indicator is in the short-term low-level consolidation, and the RSI indicator is in the short-term low-level hovering;
Long-short turning point: 160.266
Suppression: 160.938, 161.590
Support: 159.179, 158.527
Trading strategy: bearish below 160.266, target 159.179, 158.527
Alternative strategy: Bullish above 160.266, target 160.938, 161.590

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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