CM Trade

Download APP to receive bonus

GET

Pound day: bullish shock pull up

2022-07-11
1220
Fundamental analysis:

The pound remained volatile around 163.783 against the yen. It is difficult to predict the political situation in the UK in the coming months, and the financial market is likely to be volatile in the coming months, which is likely to continue into the autumn.



Gbpjpy - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the low-level Bulls' momentum surged strongly, and the short-term Bulls' pull-up trend may continue. The MACD index is in the short area, and the shock moves upward to hover near the 0 axis, and the RSI index is in the vicinity of the 50 equilibrium line for continuous consolidation;


Turning point of long and short: 163.562


Pressing position: 164.330, 164.848


Support position: 162.939, 162.402


Trading strategy: bullish above 163.562, target 164.330, 164.848


Alternative strategy: 163.562 down bearish, target 162.939, 162.402

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More