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Gbpjpy: multi head rapid pull-up and high shock
2022-09-07
1050
Fundamental analysis:
Sterling remained high against the Japanese yen at 164.336, with the year-on-year growth rate of UK retail sales slowing to 1.0% in August, and consumers reduced non essential spending; Consumer spending in the UK increased by 4.7% year-on-year in August, the smallest increase since March 2021, of which spending on necessities such as food increased by 7.2%, the largest increase since December 2021.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls' momentum rose rapidly, the high level was adjusted in a narrow range in the short term, the market was bullish, the MACD index remained in the long area and moved upward, and the RSI index remained in the long area;
Long short turning point: 164.148
Pressing position: 164.625, 164.934
Support position: 163.873, 163.605
Trading strategy: bullish above 164.148, targeting 164.625 and 164.934
Alternative strategy: bearish below 164.148, target 163.873, 163.605
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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