Gbpjpy: wide range oscillation pull up

Fundamental analysis:

Sterling remained volatile around 162.291 against the Japanese yen. The energy crisis may prompt the British government to provide more support to families, leading to further interest rate hikes by the Bank of England. British households may need further government support of up to £ 65 billion to offset the rise in energy bills this winter. In addition, if British Foreign Secretary trass becomes prime minister, he may introduce tax cuts, which will greatly reduce the risk of deep economic recession.

Gbpjpy - 4-hour K-line chart shows:

Technical analysis:

According to the 4-hour chart, Weichai, driven by low-level bulls, surged up, and the short-term Bulls' pull-up trend may continue. MACD index hovers on the upper side of the 0 axis, and RSI index is at the 50 balanced online side;

Long and short turning point: 162.147

Pressing position: 162.528, 162.771

Support position: 161.885, 161.648

Trading strategy: bullish above 162.147, target 162.528, 162.771

Alternative strategies: bearish below 162.147, targets 161.885 and 161.648