The UK economy has slowed down seriously, and the Bank of England has fallen into a dilemma in raising interest rates

Fundamental analysis:

The pound remained volatile around 159.011 against the yen. The data of British service industry and manufacturing industry in May showed that the British economy showed signs of serious slowdown. Due to the impact of rising costs and other factors, UK economic activity is almost stagnant, and the UK economy will fall into negative growth in the second quarter. With the influence of supply chain, labor shortage and other factors, the inflation situation may worsen. The UK economy is in a stagflation crisis, which also puts the Bank of England in a dilemma.

Gbpjpy - 4-hour K-line chart shows:

Technical comments: the high short power fell rapidly, fell below the brin belt index and began to fluctuate after going off the track to the node near 157.980. The short-term short power continued to retreat downward. The brin belt index showed a closing trend and continued to shift. The MACD index was in weak consolidation near the 0 axis, and the RSI index remained hovering below the 50 equilibrium line;

Long short turning point: 159.390

Pressing position: 160.171, 161.153

Support position: 158.156, 157.325

Trading strategy: bearish below 159.390, target 158.156, 157.325

Alternative strategy: bullish above 159.390, target 160.171, 161.153

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