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Gbpjpy: narrow width finishing translation
2022-08-10
1161
Fundamental analysis:
Sterling remained volatile around 163.026 against the Japanese yen. Deputy governor of the Bank of England Ramsden: inflation expectations remained stable. It is more likely that we will have to further raise interest rates, but we do not rule out the need to start cutting interest rates rapidly at some point. The sale of treasury bonds and the interest rate cut will be carried out simultaneously. Borrowing costs are more likely to rise again.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the low-level multi head dynamic oscillation moved upward, and began to maintain the narrow range consolidation and translation. The amplitude space gradually narrowed, the MACD index hovered on the upper side of the 0 axis, and the RSI index was at the 50 equilibrium line side weak consolidation;
Long and short turning point: 162.748
Pressing position: 163.569, 164.104
Support position: 162.200, 161.666
Trading strategy: bullish above 162.748, target 163.569, 164.104
Alternative strategy: bearish below 162.748, target 162.200, 161.666
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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