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GBPJPY: Bulls move up
2022-12-06
1168
Fundamental analysis:
GBP/JPY remained volatile around 166.684. As inflation remains high and companies put aside investment, the British economy may shrink by 0.4% next year, negatively affecting long-term growth.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of low-level bulls continues to fluctuate and move upwards, the short-term bullish sentiment is shrouded, the market bulls continue to climb, the MACD indicator is in the bearish area, maintains shocks and moves up to the 0 axis, and the RSI indicator is in a weak order on the side of the 50 balance line;
Long-short turning point: 166.523
Suppression: 166.982, 167.276
Support: 166.202, 165.990
Trading strategy: Bullish above 166.523, target 166.982, 167.276
Alternative strategy: bearish below 166.523, target 166.202, 165.990
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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