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GBPJPY: Narrow finishing
2023-03-05
973
Fundamental analysis:
GBP/JPY remained volatile around 163.603, as a survey of corporate CFOs by the Bank of England policymaker group showed that companies now expect to raise prices and wages at a slower pace, which is conducive to a more cautious monetary policy.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: short-term high order, the market as a whole is in a weak shock, the MACD indicator is weakly hovering around the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance levels: 163.926 164.353
Support levels: 163.168 162.810
Trading strategy: Bullish above 163.500, target 163.926 164.353
Alternative strategy: bearish below 163.500, target 163.168 162.810
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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