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GBPJPY: high position down
2023-02-23
984
Fundamental analysis:
GBP/JPY remained volatile around 162.487, and the UK manufacturing PMI in February recorded 49.2, the highest since July 2022.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum continues to fluctuate and move down, the short-term decline has not stopped, the market is shrouded in bearish sentiment, the MACD indicator is in the bullish area and continues to decline, and the RSI indicator is hovering above the 50 balance line;
Long-short turning point: 162.665
Suppression: 163.061, 163.454
Support: 162.136, 161.776
Trading strategy: bearish below 162.665, target 162.136, 161.776
Alternative strategy: Bullish above 162.665, target 163.061, 163.454
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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