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GBPJPY: High level vibration moves down
2022-10-10
1110
Fundamental analysis:
The pound remained volatile against the yen at around 160.968. As the Bank of England was forced to intervene in a major imbalance to stabilize the bond market, it is expected that the currency will continue to be a broad pressure relief valve under continued financial and political pressure.
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the power of high short positions maintains a ladder like shock and moves slowly downward. The short-term downward trend continues. The MACD index is near the axis 0 and shows signs of downward movement after sorting out. The RSI index is at the lower side of the 50 equilibrium line and hovers in a weak position;
Empty turning point: 161.371
Pressing: 162.530, 163.564
Support: 160.149, 159.209
Trading strategy: 161.371 lower bearish, target 160.149, 159.209
Alternative strategy: 161.371 upper bullish, 162.530 and 163.564 targets
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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