GBPJPY Technical Analysis 06.04.2023 1h chart
– Previous Daily candle closed strong Bearish at 163.480 forming Daily Resistance around 164.580.
– Buys on close above 163.720 targeting 1h Resistance at 164.220, Leaving Runners to the Daily Resistance formed at 164.600.
– Sells on close below 163.210 targeting 1h Support formed at 162.810, Leaving Runners to the 30min Support at 162.400.
– As the current Weekly candle broke its own low with price rejecting the upside, there could be a probability for price to retest the recent Weekly Support
– Buys on close above 163.720 targeting 1h Resistance at 164.220, Leaving Runners to the Daily Resistance formed at 164.600.
– Sells on close below 163.210 targeting 1h Support formed at 162.810, Leaving Runners to the 30min Support at 162.400.
– As the current Weekly candle broke its own low with price rejecting the upside, there could be a probability for price to retest the recent Weekly Support