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GBPJPY: up higher

2023-03-31
865
Fundamental analysis:

GBP/JPY remained volatile around 164.305, with central banks on alert amid global banking turmoil and the UK experiencing no stress related to problems at SVB and Credit Suisse.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level bulls maintain a volatile upward trend, short-term bullish sentiment emerges, the market bulls continue to rise, the MACD indicator is hovering at a high level in the bullish zone, and the RSI indicator is in a high-level order in the bullish zone;

Resistance levels: 164.655 164.958

Support levels: 163.906 163.613

Trading strategy: Bullish above 164.198, target 164.655 164.958
Alternative strategy: bearish below 164.198, target 163.906 163.613

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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