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GBPJPY: Bulls gain ground

2023-01-23
545
Fundamental analysis:

GBP/JPY remained oscillating around 160.595, United Unions: Newly announced strike action involving United union members in the North West, North East, East Midlands, West Midlands, Wales and Northern Ireland, union members will hold 10 more in the next few weeks Strike, more dates for strikes over ambulance driver disputes may be announced in the coming days.

British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: bullish momentum is rising, short-term bullish sentiment is shrouded, market bulls continue to climb, and are about to break through the previous high node, MACD indicator is in the bullish area and slowly rising, RSI indicator is in a weak order on the side of the 50 balance line;

Long-short turning point: 160.478

Suppression: 160.918, 161.247
Support: 160.137, 159.774

Trading strategy: Bullish above 160.478, target 160.918, 161.247
Alternative strategy: bearish below 160.478, target 160.137, 159.774

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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