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Gbpjpy: short shock down

2022-09-01
1091
Fundamental analysis:

Sterling fluctuated around 161.444 against the Japanese yen. Foreign secretary trass, the leader in the battle for the next British Prime Minister, recently further called for an assessment of the mandate of the Bank of England and proposed the possibility of setting a new money supply target.


Gbpjpy - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the market is shrouded in short-term sentiment, and the short-term decline may continue. The MACD index is weak at the lower side of the 0 axis, and the RSI index is narrow at the lower side of the 50 equilibrium line;


Long and short turning point: 161.550


Pressing position: 161.793, 162.016


Support position: 161.221, 161.044


Trading strategy: bearish below 161.550, targets 161.221 and 161.044


Alternative strategies: bullish above 161.550, targets 161.793 and 162.016

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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