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GBPJPY: Move high bit down
2022-11-02
1090
Fundamental analysis:
The pound remained volatile against the yen at 170.151. The tax reduction plan of former British Prime Minister Thomas Truss has turned sharply. The UK still faces a budget gap of 40 billion pounds (46 billion dollars), which needs to be filled by raising taxes and cutting spending.
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the power of high short positions fluctuates downward, and the short-term decline may continue. The overall short position of the market is good. The MACD indicator hovers on the top of the 0 axis, and the RSI indicator is weak near the 50 equilibrium line;
Empty turning point: 170.330
Pressing: 170.921, 171.482
Support: 169.622, 169.105
Trading strategy: bearish at 170.330, target 169.622, 169.105
Alternative strategy: bullish above 170.330, target 170.921, 171.482
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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