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GBPJPY: High position narrow range finishing
2022-10-26
1053
Fundamental analysis:
The pound remained volatile against the yen at 169.577. The UK is trying to cope with the deteriorating economic situation brought about by the Truss mini budget. Sunak is believed to have guided the British economy through the peak of the epidemic, and is widely regarded as a safe hand in the financial sector.
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that after the high and narrow range consolidation, the bulls kept moving up in shock, short-term bullish sentiment emerged, the market bulls continued to rise in weakness, the MACD index was collated on the upper side of the 0 axis, and the RSI index was hovering in the market weakness at the 50 equilibrium line;
Empty turning point: 169.143
Pressing: 170.236, 170.919
Support: 168.510, 167.781
Trading strategy: 169.143 upward bullish, target 170.236, 170.919
Alternative strategy: 169.143 lower bearish, target 168.510, 167.781
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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