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GBPJPY: high volatility
2023-04-18
892
Fundamental analysis:
GBP/JPY remained volatile around 166.359. The market generally believes that wage growth in the UK fell for the fourth consecutive month in February. Inflation data on Wednesday will show that the inflation rate fell from 10.4% to 9.8% in March, and the core inflation rate will also fall from 6.2%. % down to 6%.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level maintains a wide range of shocks in the short term, the market is still bullish, and the bullish momentum continues to maintain a high level of volatility.
Resistance levels: 166.635 166.865
Support levels: 165.951 165.666
Trading strategy: Bullish above 166.227, target 166.635 166.865
Alternative strategy: bearish below 166.227, target 165.951 165.666
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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