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GBPJPY: high order
2023-06-09
781
Fundamental analysis:
GBP/JPY remained volatile around 174.471 ahead of the Bank of England's next meeting on June 22, with traders betting on an 88 percent chance of a 25 basis point rate hike.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level is temporarily adjusted upwards, the market is still bullish, and there is a trend of continuous upward movement in the short term. The MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is in the bullish zone and continues to move upwards;
Resistance levels: 174.678 174.857
Support levels: 174.121 173.916
Trading strategy: Bullish above 174.344, target 174.678 174.857
Alternative strategy: bearish below 174.344, target 174.121 173.916
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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