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GBPJPY: Highs fall sharply
2023-01-19
1090
Fundamental analysis:
GBP/JPY remained oscillating around 158.979 as the British parliament is expected to approve a broad draft of a new social media bill that would require big tech companies to protect children from certain content online, the company's chief executive said. will be held criminally responsible.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the high-level bulls rose rapidly and then fell sharply in an inverted V trend. The short-term decline may continue. The market as a whole is in a state of high-level shorts. Weak side wandering;
Long-short turning point: 159.126
Suppression: 159.587, 160.038
Support: 158.566, 157.982
Trading strategy: bearish below 159.126, target 158.566, 157.982
Alternative strategy: Bullish above 159.126, target 159.587, 160.038
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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