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Gbpjpy: wide vibration translation

2022-08-25
1116
Fundamental analysis:

Sterling fluctuated around 161.728 against the Japanese yen. Due to the failure of wage negotiations, 1900 workers at the port of felixstone, the largest container port in Britain, went on strike for 8 days. At present, the port is basically in a state of stagnation.


Gbpjpy - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the short power maintains a wide range of fluctuation and decline, the market as a whole is still in a weak position, the MACD index hovers below the 0 axis, and the RSI index is in a weak position near the 50 equilibrium line;


Long and short turning point: 161.728


Pressing position: 161.995, 162.292


Support position: 161.323, 161.077


Trading strategy: bearish below 161.728, targets 161.323 and 161.077


Alternative strategy: bullish above 161.728, target 161.995, 162.292

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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