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Gbpjpy: short-term short positions are weak and lower

2022-08-26
548
Fundamental analysis:

The pound fluctuated around 161.419 against the Japanese yen. Two British research groups, the resolution foundation and the British Chamber of Commerce mentioned in their latest proposal that if the government did not act, thousands of British families might see their power cut off this winter, thus threatening their daily life and even their health in winter.


Gbpjpy - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the short-term short-term power maintains a wide range of oscillation and slow decline, and the market as a whole is still weak. The MACD index is in a narrow range under the 0 axis, and the RSI index is hovering below the 50 equilibrium line;


Long and short turning point: 161.576


Pressing position: 161.759, 161.995


Support position: 161.170, 160.993


Trading strategy: bearish below 161.576, target 161.170, 160.993


Alternative strategies: bullish above 161.576, targets 161.759 and 161.995

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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