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GBPJPY: Rising sharply

2022-12-12
1237
Fundamental analysis:
GBP/JPY remained volatile around 167.471 as British Chancellor of the Exchequer Hunt said the reforms would "promote" growth in the face of a recession and cost-of-living crisis in Britain and take advantage of Brexit to set its own rules.

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



Brief technical analysis:
The 4-hour chart: After the short-term narrow-range consolidation, the bullish momentum has risen rapidly, and short-term bullish sentiment has emerged. The MACD indicator is in the bullish zone, and the RSI indicator is in a weak shock on the side of the 50 balance line;
Long-short turning point: 167.303
Suppression: 167.771, 168.074
Support: 167.000, 166.707
Trading strategy: Bullish above 167.303, target 167.771, 168.074
Alternative strategy: bearish below 167.303, target 167.000, 166.707

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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