GBPJPY: Bulls surge up

Fundamental analysis:

The pound remained volatile against the yen at 163.733. In an interview with British media before the opening of the British Prime Minister Trass Conservative Party's autumn conference, the British Prime Minister expressed support for the "small budget" policy, but acknowledged that it should "lay a good foundation" for the proposal of this plan. Adhering to their own "growth plan", investors and economists criticized that the plan proposed billions of pounds of additional spending, but rarely provided details of how to pay for these expenditures in the short term.

GBPJPY - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that the bulls' momentum maintains a narrow range of consolidation and slowly moves upward. Market bullish sentiment emerges. MACD indicators maintain consolidation in the bulls' regions, while RSI indicators remain weak in the bulls' regions;

Empty turning point: 163.187

Pressing position: 164.889, 165.961

Support position: 161.957, 160.633

Trading strategy: bullish above 163.187, target 164.889, 165.961

Alternative strategy: 163.187 lower bearish, target 161.957, 160.633