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Pound day: continuous fluctuation and decline
2022-07-13
1125
Fundamental analysis:
The pound remained volatile around 162.562 against the yen. Britain will announce its new prime minister on September 5, and the first round of primary elections will begin this week. There are many participants in this prime minister competition and the election situation is unpredictable. All candidates are eager to try.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
Looking at the 4-hour chart: the short-term momentum maintained a weak shock downward, the short-term decline remained, the early low was close at hand, and there were signs of continued downward breaking. The MACD index hovered below the 0 axis, and the RSI index was in a narrow consolidation below the 50 equilibrium line;
Turning point of long and short: 162.848
Pressing position: 163.524, 164.230
Support position: 161.983, 161.090
Trading strategy: bearish below 162.848, target 161.983, 161.090
Alternative strategy: bullish above 162.848, target 163.524, 164.230
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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