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GBPJPY: up higher
2023-06-11
760
Fundamental analysis:
GBP/JPY remained volatile around 175.301. The market expects the UK economy to maintain positive growth this year, with only 0.3% growth. But higher interest rates, persistent inflation, slowing global growth and a lag in monetary policy tightening could weigh on growth over the next two years.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level bullish momentum continues to fluctuate and rise, the short-term bullish sentiment remains, the market bullish trend continues to rise, the MACD indicator is in the bullish zone and moves upwards, and the RSI indicator is in the bullish zone.
Resistance levels: 175.529 175.750
Support levels: 174.955 174.701
Trading strategy: Bullish above 175.176, target 175.529 175.750
Alternative strategy: bearish below 175.176, target 174.955 174.701
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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