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Gbpjpy: short shock down
2022-08-22
1148
Fundamental analysis:
Sterling fluctuated around 161.789 against the Japanese yen. Britain is suffering from more serious inflation than many European countries, because it is more vulnerable to the natural gas price crisis than the United States, and its economy is more open than Europe, leading to a faster price rise. The inflation rate in Britain is as high as 10.8%, higher than that in other comparable countries.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short power keeps moving downward in a narrow range. In the short term or the weak downward trend continues, the short power starts to wait for the opportunity to enter the market. The MACD index is in a weak position near the 0 axis, and the RSI index is in a narrow range under the 50 equilibrium line;
Long and short turning point: 161.789
Pressing position: 162.088, 162.377
Support position: 161.411, 161.175
Trading strategy: bearish below 161.789, targets 161.411 and 161.175
Alternative strategy: bullish above 161.789, target 162.088, 162.377
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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