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GBPJPY: The shock moves down

2023-04-06
928
Fundamental analysis:

GBP/JPY remained volatile around 163.533, Bank of England member Teng Leiluo: As the central bank's interest rate moves further into the restrictive range, I think a more accommodative stance is needed to achieve the inflation target.

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



Brief technical analysis:

4-hour chart: high short-term dynamics fluctuate downward, the short-term decline continues, the market as a whole is in a bearish position and continues to move downward, the MACD indicator is in the bullish area and moves down to hover around the 0 axis, and the RSI indicator is below the 50 balance line. ;

Resistance levels: 154.263 164.739

Support levels: 163.097 162.698

Trading strategy: bearish below 163.803, target 163.097 162.698
Alternative strategy: Bullish above 163.803, target 154.263 164.739

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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