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GBPJPY: Bulls move up
2023-02-27
927
Fundamental analysis:
GBP/JPY remained volatile around 162.947. The Bank of England's Monetary Policy Committee (MPC) member Mann said it was too early to say that the risks from last year's surge in inflation had eased and that the central bank should continue to raise borrowing costs.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum moves up in high volatility, short-term bullish sentiment emerges, the bulls in the market continue to pull up, the MACD indicator is hovering above the 0 axis, and the RSI indicator is at the 50 balance line and the market moves upward;
Long-short turning point: 162.807
Suppression: 163.324, 163.697
Support: 162.470, 162.097
Trading strategy: Bullish above 162.807, target 163.324, 163.697
Alternative strategy: bearish below 162.807, target 162.470, 162.097
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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