GBPJPY: sharp rise of low position bulls

Fundamental analysis:

The pound remained volatile against the yen at 166.832. The British Chancellor of the Exchequer, Hunte Hunte, is considering raising the overall tax rate and dividend tax on capital gains in the autumn report to make them consistent with the income tax. The officials of the Ministry of Finance are committed to reducing the tax relief and dividend subsidy of 2000 pounds. However, before the release of the autumn financial report on November 17, the plan may change with the change of the financial "black hole" Hunter faces.

GBPJPY - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that after the short-term shock of the low position, the bulls' momentum has risen rapidly, and the market bulls' sentiment has begun to emerge, which continues to move upward in the short term. The MACD index is in the short position area for consolidation, and the RSI index is in the short position area for shock and upward movement;

Empty turning point: 166.619

Pressing: 167.357, 167.806

Support: 166.197, 165.662

Trading strategy: bullish above 166.619, target 167.357, 167.806

Alternative strategy: 166.619 lower bearish, target 166.197, 165.662