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GBPJPY: wide range shock
2022-12-08
1239
Fundamental analysis:
GBP/JPY remained volatile around 166.739. The Halifax seasonally adjusted house price index in the UK in November was 4.7% year-on-year, compared with the previous value of 8.3%. It was the largest drop since October 2008.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term range fluctuates in a wide range, the market's long-short momentum is in a state of anxiety, the market is waiting for an opportunity to enter the market, the MACD indicator is weakly hovering above the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long-short turning point: 166.615
Suppression: 166.982, 167.230
Support: 166.312, 166.037
Trading strategy: Bullish above 166.615, target 166.982, 167.230
Alternative strategy: bearish below 166.615, target 166.312, 166.037
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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