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Pound day: shock moves up

2022-07-20
1206
Fundamental analysis:

The pound remained volatile around 165.823 against the yen, and the UK employment data in June still showed that the UK labor market was stable, which had not changed much in recent months. If the cost of living crisis begins to have a broader impact on the economy, this will be a key point that needs to be vigilant.


Gbpjpy - 4-hour K-line chart shows:




Technical analysis:


Looking at the 4-hour chart: looking at the long-term momentum, the upward trend of short-term consolidation may continue. The MACD index is in the long-term region to maintain consolidation and translation, and the RSI index is in the weak wandering of the long-term region;


Turning point of long and short: 165.456


Pressing position: 166.211, 166.570


Support position: 165.010, 164.531


Trading strategy: bearish below 165.456, target 165.010, 164.531


Alternative strategy: bullish above 165.456, target 166.211, 166.570

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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