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Gbpjpy: finishing after strong pullup of bulls
2022-08-18
1135
Fundamental analysis:
Sterling fluctuated around 162.615 against the Japanese yen. The inflation rate in Britain reached double digits. The annual data in July exceeded 10%, exceeding expectations. Although this may allow the Bank of England to continue to tighten monetary policy, it is also a signal of deteriorating consumer conditions.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the low-level bulls are strongly driven up, and the high-level bulls are in short-term consolidation. The market bulls are shrouded in sentiment, and there is a further upward trend. The MACD index is hovering on the upper side of the 0 axis, and the RSI index is in the narrow range of 50 equilibrium online side;
Long and short turning point: 162.462
Pressing position: 162.911, 163.174
Support position: 162.148, 161.851
Trading strategy: bullish above 162.462, target 162.911, 163.174
Alternative strategy: bearish below 162.462, target 162.148, 161.851
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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