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Gbpjpy: the high level fell rapidly
2022-07-29
1262
Fundamental analysis:
The pound remained volatile around 163.788 against the yen, more and more people are returning to the labor market, and UK inflation will be in trouble in 2023, which led them to predict that the Bank of England could not achieve its expectation of raising interest rates to 3.0% by the end of 2022.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the high short selling power is rapidly declining, and the short-term decline may continue. The overall short selling situation of the market is good. The MACD index is in the short selling area, and the weak downward movement is maintained, and the RSI index is hovering below the 50 equilibrium line;
Long short turning point: 163.788
Pressing position: 164.129, 164.538
Support position: 163.242, 162.833
Trading strategy: bearish below 163.788, target 163.242, 162.833
Alternative strategy: bullish above 163.788, target 164.129, 164.538
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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