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Pound day: the high level fell sharply
2022-07-25
1233
Fundamental analysis:
Sterling remained volatile around 163.106 against the yen, and retail sales fell again in June, but the decline was less than expected. Despite the negative trend, the retail sales are still 2.2% higher than the pre epidemic level, but the data show that the retail sales are declining year by year.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the power of short positions is in a downward trend, and there is no sign of stopping in the short term. The MACD index is hovering under the 0 axis, and the RSI index is in the short position, maintaining a weak consolidation and moving down slowly;
Turning point of long and short: 163.303
Pressing position: 163.748, 164.204
Support position: 162.654, 162.278
Trading strategy: bearish below 163.303, target 162.654, 162.278
Alternative strategies: bullish above 163.303, targets 163.748, 164.204
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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