GBPJPY: Collate and rollback

Fundamental analysis:

The pound remained volatile against the yen at 168.115. British enterprises worried about the sluggish performance of the upcoming Christmas. Due to the soaring cost of living, nearly half of the families planned to cut holiday spending, and the sales adjusted for inflation also fell sharply. Among the respondents from October 21 to 24, 48% plan to reduce their spending on Christmas this year, 59% plan to buy less generous gifts, and 42% plan to reduce social activities.

GBPJPY - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that after the low position bulls fluctuated and rose, the high position was blocked and sorted out, and the short position power showed signs of waiting for an opportunity to enter. The MACD index hovered around the 0 axis, and the RSI index was weak and sorted out near the 50 equilibrium line;

Empty turning point: 168.301

Pressing: 168.854, 169.348

Support: 167.608, 167.156

Trading strategy: bearish at 168.301, target 167.608, 167.156

Alternative strategy: bullish on 168.301, target 168.854, 169.348