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GBPJPY: Bears plunge
2022-11-29
1238
Fundamental analysis:
GBP/JPY remained volatile around 166.012. The British government's proposed plan will last from early 2023 to March 2026 and will help achieve the goal of "reducing energy consumption by 15% by 2030". The new scheme will help hundreds of thousands of people across the UK to better insulate their homes to reduce energy consumption and save households hundreds of pounds a year on their energy bills.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen sharply, the short-term decline may continue, the high-level downward trend is good, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Long-short turning point: 166.206
Suppression: 166.601, 167.029
Support: 165.580, 165.196
Trading strategy: bearish below 166.206, target 165.580, 165.196
Alternative strategy: Bullish above 166.206, target 166.601, 167.029
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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