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GBPJPY: Wide-ranging giant earthquake
2022-12-02
1112
Fundamental analysis:
GBP/JPY remained volatile around 165.766, and while financial market conditions have stabilized, new mortgage rates remain high and the market has lost a lot of momentum. It was the biggest monthly fall in UK house prices since June 2020, and the fallout from the mini-budget continued to weigh on sentiment.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term dynamics are in a wide range of shocks, and the market's long-short dynamics are anxious. In the short term, it may oscillate around this level, the MACD indicator is in the short-term area and fluctuates at a low level, and the RSI indicator is hovering below the 50 balance line;
Long-short turning point: 165.876
Suppression: 166.154, 166.423
Support: 165.496, 165.212
Trading strategy: bearish below 165.876, target 165.496, 165.212
Alternative strategy: Bullish above 165.876, target 166.154, 166.423
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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