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Gbpjpy: low weak finishing

2022-08-01
1283
Fundamental analysis:

The pound remained volatile around 162.324 against the yen. The Bank of England is tightening monetary policy as the Federal Reserve, but the outlook for the British economy is far worse than that of the United States. It is difficult for the Bank of England to take the tough stance of the Federal Reserve.


Gbpjpy - 4-hour K-line chart shows:




Technical analysis:


Looking at the 4-hour chart: the momentum of high short positions fell rapidly, the low positions were adjusted in a narrow range, and the market short position sentiment was shrouded. The MACD index was in the short position and maintained a weak downward trend, and the RSI index was in the short position and maintained a consolidation and Translation;


Turning point of long and short: 162.462


Pressing position: 162.889, 163.316


Support position: 161.908, 161.544


Trading strategy: 162.462 bearish below, target 161.908, 161.544


Alternative strategy: bullish above 162.462, target 162.889, 163.316

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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