GBPJPY: High bit slow downlink

Fundamental analysis:

The pound remained volatile against the yen at 168.094. The UK's core CPI in September was 0.6% on a monthly basis, expected to be 0.5%, with a previous value of 0.8%. The annual rate of CPI in Britain recorded 10.1% in September. Since the annual rate of inflation in Britain reached double digits again, the monthly rate of CPI rose by 0.5%. This will only aggravate the pain of British Prime Minister Truss' government, because before the arrival of severe winter, higher price pressure still exists, and the cost of living crisis will also worsen in the coming months.

GBPJPY - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that the momentum of high short positions remains weak and slowly declines. The short-term decline may continue. The market short positions gradually enter the market. MACD indicators remain in the long positions and remain in the downward direction. RSI indicators remain in the 50 balanced online weak positions;

Empty turning point: 168.442

Pressing: 169.230, 170.079

Support: 167.274, 166.607

Trading strategy: 168.442 lower bearish, target 167.274, 166.607

Alternative strategy: bullish above 168.442, target 169.230, 170.079