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Pound day: low strong pull up
2022-07-08
1180
Fundamental analysis:
The low level of sterling against the yen moved up to around 163.382. The UK inflation rate reached 9.1% in May. The Bank of England's updated data in June showed that the inflation rate would reach a peak of nearly 11% in October. When the Bank of England released the latest data in June, it said it would further raise interest rates by 25 basis points.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
Looking at the 4-hour chart: the low-level bull dynamics fluctuated strongly and rose to the upper rail range of the brin belt index channel, and the short-term bull dynamics showed signs of continuing to move upward. The brin belt index opened its mouth after showing an opening trend. The MACD index was in the short area and maintained a concussion and upward movement, and the RSI low-level bull dynamics fluctuated upward to the 50 equilibrium online side;
Long short turning point: 163.188
Pressing position: 163.991, 164.526
Support position: 162.634, 162.081
Trading strategy: bullish above 163.188, target 163.991, 164.526
Alternative strategy: bearish below 163.188, target 162.634, 162.081
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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