Britain imposes windfall profits tax on oil and gas companies

Fundamental analysis:

The pound remained volatile around 160.452 against the yen. With the British government announcing that it would impose windfall profits tax on oil and gas companies, BP said it would reconsider its plans in the UK. The Johnson administration has no choice but to impose windfall profits tax on energy companies. After the outbreak of the conflict between Russia and Ukraine, oil and natural gas prices rose further, and energy companies made huge profits.

Gbpjpy - 4-hour K-line chart display:

Technical comments: it maintained a wide range of vibration in the Bollinger belt index channel for a long time. During this period, it repeatedly spied the nodes of the upper and lower rail sections. The Bollinger belt index continued to shift in a closing trend. The short-term Bull Power showed signs of waiting for opportunities to move up slowly. The MACD index maintained a narrow range on the upper side of the 0 axis, and the RSI index maintained a weak position on the online side of the 50 equilibrium;

Multi empty turning point: 159.818

Pressing position: 160.976, 161.833

Support position: 159.063, 158.383

Trading strategy: bullish above 159.818, target 160.976, 161.833

Alternative strategy: bearish below 159.818, target 159.063, 158.383

The above analysis is a personal point of view and is for reference only.