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GBPJPY: High level wandering
2022-10-27
1038
Fundamental analysis:
The pound remained volatile against the yen at 170.120. The new British Prime Minister Sunak formed a new cabinet, and ministers in important positions such as finance, national defense and foreign affairs remained in office.
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the high position of the bull power and the weak position hover and move upward. The market bull power has signs of waiting for opportunities to enter the market, but the follow-up power is still insufficient. The MACD index is arranged in the bull region, and the RSI index is at the 50 equilibrium line and the market weak position hovers;
Empty turning point: 169.924
Pressing: 170.919, 171.586
Support: 169.200, 168.510
Trading strategy: bullish above 169.924, target 170.919, 171.586
Alternative strategy: bearish at 169.924, target 169.200, 168.510
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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