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GBPJPY: The shock moves up
2023-01-18
1055
Fundamental analysis:
GBP/JPY remained volatile around 157.567 as British wages grew at their fastest rate in more than 20 years but failed to keep up with rising prices. Fixed wages, excluding bonuses, rose at an annual rate of 6.4% in the September-November period, the fastest increase since 2000, excluding the pandemic.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level bullish dynamics are moving up, the short-term bullish sentiment is still there, and there are signs of continuing to move up in the short-term, the MACD indicator is in the bearish area and slowly rising, and the RSI indicator is finishing near the 50 balance line;
Long-short turning point: 157.358
Suppression: 158.005, 158.365
Support: 156.973, 156.575
Trading strategy: Bullish above 157.358, target 158.005, 158.365
Alternative strategy: bearish below 157.358, target 156.973, 156.575
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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