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Rising inflationary pressures exacerbate fears of a recession
2022-05-26
941
Fundamental analysis:
The pound remained volatile around 159.879 against the yen. A business survey released earlier showed that the momentum of the UK economy slowed much more than expected this month, exacerbating fears of recession at a time of rising inflationary pressure.
Gbpjpy - 4-hour K-line chart shows:
Technical comments: it has been maintained in the Bollinger belt index channel for a long time. During this period, it has been spied back and forth for many times, and the Bollinger belt index is closing and moving. MACD index is weak around the 0 axis, and RSI index is narrow around the 50 equilibrium line;
Long short turning point: 159.390
Pressing position: 160.674, 161.405
Support position: 158.609, 157.829
Trading strategy: bullish above 159.390, target 158.609, 157.829
Alternative strategy: bearish below 159.390, target 160.674, 161.405
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.
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