CM Trade

Download APP to receive bonus


GBPJPY: The shock moves down

Fundamental analysis:

GBP/JPY remained volatile around 162.269 as Britain plans to open its doors to more foreign workers to address chronic labor market shortages. Those involved said the process would start with construction, adding key jobs to the government's "short occupation list".

British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to fluctuate and move downward, and the short-term trend will continue to move downward. The short-term downward sentiment remains, the MACD indicator is in the short-term area, and the RSI indicator is hovering below the 50 balance line;

Resistance levels: 162.767 163.086

Support levels: 161.992 161.718

Trading strategy: bearish below 162.448, target 161.992 161.718
Alternative strategy: call above 162.448, target 162.767 163.086

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar