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GBPJPY: Low level wide amplitude oscillation
2022-09-27
1061
Fundamental analysis:
The pound remained volatile against the yen at 154.558, and British Prime Minister Trass introduced a series of tax cuts when he took office. The UK bond market was in turmoil on Friday. The yield on the five-year UK government bond rose by 0.5 percentage point, the biggest one-day increase since at least 1991.
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of short positions remains volatile and moves downward, and the low position quickly rebounds in the short term and then reorganizes. The market short position sentiment remains unchanged. The MACD index is in the low position narrow range consolidation in the short position region, and the RSI index is in the short position region and remains weak and volatile;
Empty turning point: 155.027
Pressing position: 156.173, 157.284
Support position: 153.499, 152.492
Trading strategy: 155.027 lower bearish, target 153.499, 152.492
Alternative strategy: 155.027 upper bullish, target 156.173, 157.284
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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