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GBPJPY: bearish shock

2022-09-22
1123
Fundamental analysis:

The pound remained volatile against the yen at 162.252, and investors' views on the prospects of the UK have deteriorated significantly. However, the new government with insufficient experience is facing huge challenges, which is easy to make mistakes and aggravate investors' concerns.


GBPJPY - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the bearish sentiment of the market continues to shake down, and the short-term decline has not stopped. The MACD index hovers below the axis 0, and the RSI is not enough to settle in the bearish area below the 50 equilibrium line;


Empty turning point: 162.463


Pressing position: 162.946, 163.453


Support position: 161.816, 161.422


Trading strategy: bearish at 162.463, target 161.816, 161.422


Alternative strategy: bullish on 162.463, target 162.946, 163.453

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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