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Pound day: high level consolidation and retreat
2022-07-19
1188
Fundamental analysis:
GBP / JPY remained high and retreated around 165.027. Traders were worried about the prospects of the UK economy, that the UK economic growth was stagnant, and that the inflation rate might eventually continue to be higher than that of other regions.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bull Power maintained a trend of shock and rise, the high level retreated in the short term, and the short power began to wait for the opportunity to enter. The MACD index was in the high consolidation and translation of the bull region, and the RSI index was in the 50 equilibrium line side weak hovering;
Turning point of long and short: 165.184
Pressing position: 165.663, 166.211
Support position: 164.531, 164.063
Trading strategy: bearish below 165.184, target 164.531, 164.063
Alternative strategy: bullish above 165.184, target 165.663, 166.211
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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