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GBPJPY: Oscillation moves up
2022-11-23
1067
Fundamental analysis:
The pound remained volatile against the yen at 167.841. Given the bleak outlook for the UK economy and the more dovish stance of the Bank of England, it is expected that the UK will experience a long-term recession. The financial consolidation plan announced by the British government in its autumn report strengthened this forecast.
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the trend of bulls is good, and they will continue to move upward in the short term. The MACD indicator is hovering in the bulls area, and the RSI indicator is in the bulls area;
Empty turning point: 167.718
Pressing: 168.287, 168.733
Support: 167.272, 166.849
Trading strategy: bullish above 167.718, target 167.272, 166.849
Alternative strategy: bearish at 167.718, target 168.287, 168.733
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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