CM Trade

Download APP to receive bonus

GET

GBPJPY: high volatility

2023-04-14
650
Fundamental analysis:

GBP/JPY remained volatile around 165.992 as the British economy unexpectedly stalled in February, when strikes paralyzed public services and the government's efforts to boost growth suffered setbacks.

British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:



Brief technical analysis:

4-hour chart: High short-term volatility, market bullish momentum began to show signs of weakening, short-term retracement, but the upward trend remains, in a high and wide range of shocks, MACD indicator is in the bullish area, and RSI indicator is hovering above the 50 balance line;

Resistance levels: 166.348 166.682

Support levels: 165.511 165.132

Trading strategy: Bullish above 165.862, target 166.348 166.682
Alternative strategy: bearish below 165.862, target 165.511 165.132

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More