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GBPJPY: High level sorting rollback
2022-10-06
1087
Fundamental analysis:
The pound remained volatile against the yen at 163.436. The Bank of England rejected all long-term government bonds of 2.23 billion pounds (2.53 billion dollars) in its daily reverse repurchase operation, which aims to stabilize the market and prevent pension funds from selling assets at reduced prices.
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' power has kept rising in shock, while the high position has retreated in shock due to short-term obstacles, and the bears' power has begun to wait for an opportunity to enter the market. The short-term bears have continued to adjust. The MACD index is maintained in the bulls' area, and the RSI index is hovering in the 50 balanced online weak side;
Empty turning point: 164.065
Pressing: 165.413, 166.507
Support: 162.154, 160.995
Trading strategy: bearish at 164.065, target 162.154, 160.995
Alternative strategy: bullish on 164.065, target 165.413, 166.507
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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