CM Trade

Download APP to receive bonus

GET

Britain is expected to provide additional economic stimulus this fiscal year

2022-06-01
907
Fundamental analysis:

The pound remained volatile around 162.127 against the yen. It is expected that the British government will provide more financial support to British households before the end of this fiscal year (until April next year).

Gbpjpy - 4-hour K-line chart display:




Technical comments: the upper rail section of the Bollinger belt index channel continued to fluctuate and rise, the high level reached the node near 162.379, and the short-term high level was weak. The Bollinger belt index continued to show an upward trend, the MACD index was in the process of maintaining a slow upward movement in the bull region, and the RSI index was in the process of maintaining a narrow amplitude fluctuation on the 50 balanced online side;


Multi empty turning point: 161.774


Pressing position: 162.890, 163.708


Support position: 161.000, 160.154


Trading strategy: bullish above 161.774, target 162.890, 163.708


Alternative strategy: bearish below 161.774, target 161.000, 160.154


The above analysis is a personal point of view and is for reference only.

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More