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GBPJPY: high volatility
2023-05-02
807
Fundamental analysis:
GBP/JPY remained volatile around 171.741. The current inflation rate in the UK is still as high as about 10%. Rising prices have brought enormous pressure to various industries. Various forms of strikes were held to demand higher wages.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: After the bullish momentum has been pulled up strongly, the high level is arranged in a narrow range in the short term. The market bullish sentiment remains, and the high level continues to move upward. The MACD indicator is in the high level of the bullish zone. ;
Resistance levels: 172.092 172.443
Support levels: 171.177 170.813
Trading strategy: bullish above 171.540, target 172.092 172.443
Alternative strategy: bearish below 171.540, target 171.177 170.813
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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