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GBPJPY: Short position continues to decline
2022-09-19
1064
Fundamental analysis:
The pound remained volatile against the yen at 163.122. At present, there are many discussions about stagflation. The current stagflation is in the British economy. The new Prime Minister Trass plans to fund the huge energy aid program by expanding borrowing, which has increased investors' concerns about the long-term prospects of the British economy.
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of high short positions remains volatile and downward, and the short-term decline has not stopped. The short positions in the market are in a good mood and move further downward. The MACD index is arranged under the 0 axis and the RSI index is arranged under the 50 equilibrium line;
Empty turning point: 163.268
Pressing position: 163.789, 164.323
Support position: 162.607, 162.174
Trading strategy: 163.268 lower bearish, target 162.607, 162.174
Alternative strategy: bullish above 163.268, target 163.789, 164.323
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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