Pound day: constantly rising and strengthening

Fundamental analysis:

Sterling remained volatile around 163.492 against the yen. The Bank of England raised its benchmark interest rate by 25 basis points on Thursday, but said it might need to take greater measures to curb inflation. Due to the increasing obstacles to economic growth, the freedom of the Bank of England to raise interest rates has been limited.

Gbpjpy - 4-hour K-line chart display:

Technical comments: after the bearish power continued to vibrate and descend in the lower rail section of the brin zone index channel, the low level fell below the lower rail to the node near 159.965 and began to reverse and move up. Entangled in the arrangement of the upper rail section nodes in the brin zone index channel, the short-term long power continued to move up. The brin zone index continued to close in the middle, and the MACD index remained weak and moved up at the low level in the short zone, The low level of RSI index fluctuates upward to hover near the 50 equilibrium line;

Multi empty turning point: 162.928

Pressing position: 164.500, 165.479

Support position: 162.104, 161.305

Trading strategy: bullish above 162.928, target 164.500, 165.479

Alternative strategy: bearish below 162.928, target 162.104, 161.305

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