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GBPJPY: up higher

2023-02-15
1143
Fundamental analysis:

GBP/JPY remained volatile around 161.950, and the British economy will contract in the first, second and third quarters of this year. About three-quarters of respondents said the BoE would raise rates by 25 basis points to 4.25% on March 23 before pausing.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is fluctuating and rising at a high level, the short-term bullish sentiment continues, the market as a whole is in the process of rising bulls, the MACD indicator is in the bullish zone and is moving upwards, and the RSI indicator is in the bullish zone and is finishing at a high level;

Long-short turning point: 161.775

Suppression: 162.242, 162.539
Support: 161.473, 161.151

Trading strategy: Bullish above 161.775, target 162.242, 162.539
Alternative strategy: bearish below 161.775, target 161.473, 161.151

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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