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GBPJPY: Multi head concussion moves up
2022-10-03
1113
Fundamental analysis:
The pound remained volatile against the yen at 161.709. The British National Bureau of Statistics: The proportion of the UK current account deficit in GDP in the first quarter was revised to 7.2% from the previous estimate of 8.3%, still the highest level since records. The UK economy in the second quarter is expected to be 0.2% lower than that in the fourth quarter of 2019 (the previous expectation was 0.6% higher than that in the fourth quarter of 2019).
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the low bulls' power keeps moving up in shock, and there is a sign of continuing to move up in the short term. The MACD indicator is in the long area and keeps finishing up, while the RSI indicator is in the weak side of the 50 equilibrium line;
Empty turning point: 161.138
Pressing position: 162.909, 164.159
Support position: 159.784, 158.429
Trading strategy: 161.138 upper bullish, target 162.909, 164.159
Alternative strategy: 161.138 lower bearish, target 159.784, 158.429
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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