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Gbpjpy: high shock pullback
2022-08-19
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Fundamental analysis:
Sterling remained volatile around 161.975 against the yen. The Financial Times reported that after the US Treasury gave a green light to investors to clear their positions last month, many European banks had allowed customers to trade Russian bonds again.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the power of high-level short bears maintains a weak and fluctuating downward trend, the short-term short bears show signs of waiting for opportunities to enter the market, the MACD index hovers on the upper side of the 0 axis, and the RSI index is in a weak consolidation near the 50 equilibrium line;
Long and short turning point: 162.106
Pressing position: 162.377, 162.707
Support position: 161.699, 161.411
Trading strategy: bearish below 162.106, target 161.699, 161.411
Alternative strategy: bullish above 162.106, targets 162.377 and 162.707
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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