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GBPJPY: high order
2023-05-30
712
Fundamental analysis:
GBP/JPY remained volatile around 173.463 as UK interest rates, which have risen to a 16-year high of 4.50%, are now expected to reach 5.50% by the end of the year, a marked shift from a week ago, when money markets showed traders expected rates to reach November will peak at 4.80%.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum continued to fluctuate at a high level and then sorted out, the short-term bullish sentiment began to weaken, the bullish momentum in the market weakened, the MACD index was in the high level of the bullish area, and the RSI index appeared to be weak on the side of the 50 balance line;
Resistance levels: 173.921 174.193
Support levels: 173.168 172.819
Trading strategy: bearish below 173.463, target 173.168 172.819
Alternative strategy: Bullish above 173.463, target 173.921 174.193
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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