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GBPJPY: high pull up
2023-06-14
762
Fundamental analysis:
GBP/JPY remained volatile around 176.820, and the market's bets on the Bank of England's interest rate hike surged, with peak interest rate expectations rising 12 basis points to 5.7%.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum has risen strongly from high levels, the market’s bullish sentiment continues, short-term bulls have signs of continuing to move upward, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is at a high level in the bullish zone and moving up;
Resistance levels: 177.136 177.398
Support: 176.353 176.053
Trading strategy: Bullish above 176.653, target 177.136 177.398
Alternative strategy: bearish below 176.653, target 176.353 176.053
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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