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GBPJPY: up higher
2023-06-16
751
Fundamental analysis:
GBP/JPY remained volatile around 179.275. The Bank of England's monetary policy decision on June 22 may be the most stimulating of many central bank meetings this month. Traders are now clearly more inclined to short the dollar.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is rising at a high level, the bullish sentiment in the market continues, and there is a trend of continuing to move upward in the short term. The MACD indicator is moving up from the high level in the bullish zone, and the RSI indicator is hovering above the 80 balance line in the overbought zone in the bullish zone;
Resistance levels: 179.688 180.121
Support levels: 178.655 178.236
Trading strategy: Bullish above 179.047, target 179.688 180.121
Alternative strategy: bearish below 179.047, target 178.655 178.236
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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