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Gbpjpy: wide range oscillation down
2022-08-31
996
Fundamental analysis:
Sterling fluctuated around 161.871 against the yen, and British government bonds are about to suffer the largest monthly decline since 1994. The soaring energy prices have triggered a "perfect storm" of rising inflation, tightening monetary policy and increasing government borrowing
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short-term wide-range consolidation translated, the market fell again after pulling up, the short power waited for the opportunity to enter, the MACD index was in the long region to maintain the downward oscillation, and the RSI index was in the weak consolidation below the 50 equilibrium line;
Long and short turning point: 161.871
Pressing position: 162.121, 162.357
Support position: 161.523, 161.326
Trading strategy: bearish below 161.871, targets 161.523 and 161.326
Alternative strategy: bullish above 161.871, targets 162.121 and 162.357
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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