Gbpjpy: narrow width sorting down

Fundamental analysis:

The pound fluctuated around 162.304 against the yen. Due to the current surge in demand for monkeypox vaccination, the existing stock of vaccines in the UK may be exhausted in two or three weeks, and it is expected that they will not be replenished before the end of September. At present, there are only 8360 vaccines in the UK, of which about 5000 are designated for the capital region where the confirmed cases are concentrated, and the newly ordered 100000 vaccines will not be shipped until the end of September.

Gbpjpy - 4-hour K-line chart shows:

Technical analysis:

4-hour chart: in the short term, the narrow range consolidation translation is maintained, the market short power moves downward, the MACD index hovers on the upper side of the 0 axis, and the RSI index is in the narrow range consolidation on the lower side of the 50 equilibrium line;

Long and short turning point: 162.606

Pressing position: 163.099, 163.569

Support position: 161.666, 161.202

Trading strategy: bearish below 162.606, target 161.666, 161.202

Alternative strategy: bullish above 162.606, targets 163.099 and 163.569