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GBPJPY: wide range shock
2023-05-24
797
Fundamental analysis:
GBP/JPY remained volatile around 171.984. The British Office for National Statistics: The debt payable by the central government in April 2023 was 9.8 billion pounds, a record for the month. UK public sector net debt (excluding banks) was 2.537 trillion pounds in April, equivalent to 99.2% of GDP.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: high short-term wide fluctuations, the market as a whole is in a range-bound trend, short-term failure to get out of the high and wide range, the market may be entangled in high fluctuations, the MACD indicator is in the bullish area and moves down gently, and the RSI indicator is on the side of the 50 balance line Weak wandering;
Resistance levels: 172.382 172.665
Support levels: 171.674 171.400
Trading strategy: bearish below 172.134, target 171.674 171.400
Alternative strategy: call above 172.134, target 172.382 172.665
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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