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GBPJPY: climbed higher
2023-05-18
836
Fundamental analysis:
GBP/JPY remained volatile around 171.899. Market pricing showed that the Bank of England will raise interest rates by at least one more 25 basis points, and there is a high possibility of further rate hikes, but this data may make the Bank of England more cautious.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level bullish momentum continues to climb, the short-term bullish sentiment continues, and there is no sign of stopping, the previous high is close at hand, and the position is about to break, the MACD indicator is in the bullish zone and moves up, and the RSI indicator is in the bullish zone.
Resistance levels: 172.232 172.577
Support levels: 171.321 170.983
Trading strategy: bearish below 171.706, target 171.321 170.983
Alternative strategy: Bullish above 171.706, target 172.232 172.577
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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