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GBPJPY: pull up low
2023-02-06
1069
Fundamental analysis:
GBP/JPY remained volatile around 157.987, with Britain's rail network set to be hit by another massive strike, with more action likely to be announced if next week's talks fail to achieve a breakthrough. More than 12,000 drivers are planning a second strike this week that will shut down services on 15 major UK rail lines.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the low-level bulls reversed and rose, the short-term bullish sentiment shrouded, the market bulls continued to climb, the MACD index was in the short area and moved up, and the RSI index was in the short area and moved up to the side of the 50 balance line;
Long-short turning point: 157.822
Suppression: 158.316, 158.636
Support: 157.492, 157.211
Trading strategy: Bullish above 157.822, target 158.316, 158.636
Alternative strategy: bearish below 157.822, target 157.492, 157.211
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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