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GBPJPY: Bulls climb
2023-04-30
781
Fundamental analysis:
GBP/JPY remained volatile around 171.032. The Bank of England is about to hold a policy meeting, and considering the inflation situation, it is difficult for the central bank to make an easy decision. The market bets that the probability of the Bank of England continuing to raise interest rates is not low.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum has risen strongly, the short-term bullish sentiment remains, the bullish momentum in the market shows no signs of stopping, the MACD indicator is in the bullish zone, and the RSI indicator is in the bullish zone.
Resistance levels: 171.395 171.730
Support levels: 170.519 170.234
Trading strategy: Bullish above 170.815, target 171.395 171.730
Alternative strategy: bearish below 170.815, target 170.519 170.234
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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