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GBPJPY: high down
2022-11-25
1267
Fundamental analysis:
Sterling remained volatile against the yen around 167.890, the UK is entering a long but mild recession, consumers face a long-term cost of living crisis, but the Bank of England will continue to raise interest rates to fight inflation.
GBPJPY GBPJPY - 4-hour candlestick chart shows:
A brief technical analysis:
From the 4-hour chart: the high-level bears continue to retreat, the short-term bearish downward trend may continue, the MACD indicator is in the bullish area and the short-term downward movement, the RSI indicator is hovering near the 50 equilibrium line;
Long and short turning point: 168.042
Suppression: 168.424, 168.813
Support: 167.422, 167.054
Trading strategy: bearish below 168.042, target 167.422, 167.054
Alternative strategy: bullish above 168.042, target 168.424, 168.813
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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