GBPJPY: Oscillating downward

Fundamental analysis:

The pound remained volatile against the yen at 164.. 799. It is expected that British Prime Minister Sunak will implement a tighter fiscal stance than previously expected, and the Bank of England may continue to tighten monetary policy actively in the near future, partly to compensate for the continued damage to the country's reputation. The policy turmoil of recent weeks now makes it more difficult for Britain to weigh the pros and cons between growth, inflation and interest rates.

GBPJPY - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that the momentum of short positions remains volatile and slowly declines, and the short-term decline may continue. The short positions in the market are in a good mood. The MACD indicator is in the short positions area and remains in the downward direction, while the RSI indicator is in the short positions area;

Empty turning point: 165.057

Pressing: 165.541, 165.954

Support: 164.330, 163.920

Trading strategy: 165.057 lower bearish, target 164.330, 163.920

Alternative strategy: 165.057 upward bullish, target 165.541, 165.954