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GBPJPY：Shorts Shake Down Again
2022-09-21
1201
Fundamental analysis:
The pound remained volatile against the yen at 163.510. Traders expected the Bank of England to raise interest rates by 75 basis points twice before the end of the year. The Federal Reserve will also hold a meeting this week. The expectation of a larger rate increase of at least 75 basis points supported the dollar, and its attention overshadowed that of the Bank of England.
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the short-term consolidation is slowly rising, but the bearish mood is shrouded and the market moves downward again. The market has not changed the downward trend. The MACD indicator source hovers below the 0 axis, and the RSI indicator is under the 50 equilibrium line for consolidation;
Empty turning point: 163.631
Pressing position: 164.190, 164.685
Support position: 163.009, 162.527
Trading strategy: bearish at 163.631, target 163.009, 162.527
Alternative strategy: bullish on 163.631, target 164.190, 164.685
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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