GBPJPY: High lift

Fundamental analysis:

The pound remained volatile against the yen at 167.913. Due to the soaring energy costs, more and more British people bought wood stoves for the winter, driving the sales of wood stoves. Under the situation of demand exceeding supply, there was a shortage of firewood stoves in Britain. From April to June, the sales volume of wood stoves in Britain increased by 40% year on year; As the weather gets colder, some dealers find that consumers buy more than one wood stove at a time.

GBPJPY - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that the bulls' momentum keeps surging, short-term bullish sentiment emerges, and the market bulls' momentum continues to rise. The MACD index hovers above the 0 axis, and the RSI index is collated above the 50 equilibrium line;

Empty turning point: 167.718

Pressing: 168.287, 168.733

Support: 167.272, 168.849

Trading strategy: bullish above 167.718, target 168.287, 168.733

Alternative strategy: bearish at 167.718, target 167.272, 168.849