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GBPJPY: move up high
2023-05-19
799
Fundamental analysis:
GBP/JPY remained volatile around 172.091. Bank of England Governor Bailey: Since April, we have every reason to expect a sharp decline in inflation in the coming months. If there is evidence that the pressure will last longer, then further tightening of monetary policy will be required.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level long-term dynamics fluctuate upwards, the market is shrouded in bullish sentiment, the market’s long-term power continues to rise, the MACD indicator is in the long-term zone and continues to rise, and the RSI indicator is hovering at a high level in the long-term zone;
Resistance levels: 172.416 172.692
Support levels: 171.597 171.321
Trading strategy: Bullish above 171.890, target 172.416 172.692
Alternative strategy: bearish below 171.890, target 171.597 171.321
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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