CM Trade

Download APP to receive bonus

GET

GBPJPY: high volatility

2023-01-31
1055
Fundamental analysis:

GBP/JPY remained volatile around 161.054. British Prime Minister's spokesman Max Blain: British Prime Minister Sunak first learned of the tax penalty for British Chancellor of the Exchequer Zahavi on January 14. British Prime Minister Sunak was unaware of Zahavi's tax problems when he appointed him as chancellor; the UK has no plans to reform the UK ministerial vetting system. There is still time for the union to "take a step back" before striking on February 1.

British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the high level maintains a volatile trend in the short-term, and the market’s high-level short-term momentum has signs of waiting for an opportunity to enter the market, but it is still in the high level consolidation, the MACD indicator is hovering weakly above the 0 axis, and the RSI indicator is weakly finishing above the 50 balance line;

Long-short turning point: 161.213

Suppression: 161.567, 161.898
Support: 161.706, 160.399

Trading strategy: bearish below 161.213, target 161.706, 160.399
Alternative strategy: Bullish above 161.213, target 161.567, 161.898

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More