The UK CPI recorded an annual rate of 9% in April, a record high

Fundamental analysis:

The pound remained volatile around 158.186 against the yen, and the UK CPI recorded an annual rate of 9% in April, a record high; The monthly CPI rate of the UK recorded 2.5% in April, the highest since April 1991; The monthly rate of UK retail price index in April recorded 3.4%, the highest since April 1980.

Gbpjpy - 4-hour K-line chart shows:

Technical comments: the power of high-level short positions fell rapidly, fell below the brin zone index middle rail and continued to decline after entering the middle and lower rail range. The short-term short position downward trend may continue, and there is no sign of final stop. After the brin zone index showed an opening trend, it began to close gradually, and the MACD index remained at a high level in the bull area, fluctuated and fell to hovering near the 0 axis, RSI index short power remained volatile and fell to 50. The short area under the equilibrium line fluctuated;

Long short turning point: 158.634

Pressing position: 158.541, 160.271

Support position: 157.426, 156.695

Trading strategy: bearish below 158.634, target 157.426, 156.695

Alternative strategy: bullish above 158.634, target 158.541, 160.271

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