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GBPJPY: Bears move down
2022-12-30
1101
Fundamental analysis:
GBP/JPY remained volatile around 160.339, and immigration management personnel at several airports in the UK started a new round of strikes. Faced with waves of strikes one after another, the British government is still resolute and rejects the main demands of trade unions for higher wages to offset the impact of high inflation.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum remains weak and moves down, the short-term decline may be maintained, the market is shrouded in bearish sentiment, the MACD indicator is hovering weakly near the 0 axis, and the RSI indicator is weakly moving down below the 50 balance line;
Long-short turning point: 160.740
Suppression: 161.392, 162.064
Support: 159.634, 158.962
Trading strategy: bearish below 160.740, target 159.634, 158.962
Alternative strategy: Bullish above 160.740, target 161.392, 162.064
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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