Gbpjpy: wide amplitude oscillation moving up

Fundamental analysis:

Sterling fluctuated around 162.962 against the Japanese yen. The leading indicators of the real estate market recently showed a slowdown in economic activity. Against the background of the exceptionally high ratio of house prices to income, the rising borrowing costs have increased the pressure on household budgets. Uk house prices fell last month for the first time since June 2021. However, it is worth noting that the house price is still more than 30000 pounds higher than the same period last year.

Gbpjpy - 4-hour K-line chart shows:

Technical analysis:

According to the 4-hour chart, the Bulls' power keeps rising, the overall bullish sentiment of the market continues, the MACD index hovers around the 0 axis, and the RSI index is at the 50 equilibrium online side;

Long and short turning point: 162.631

Pressing position: 163.452, 163.974

Support position: 162.096, 161.548

Trading strategy: bullish above 162.631, target 163.452, 163.974

Alternative strategy: bearish below 162.631, target 162.096, 161.548