GBPJPY Technical Analysis 01.11.2023 1h chart
– Previous Daily candle closed strong Bullish around 184.230 breaking above the Weekly recent Consolidation Zone, October Monthly candle also closed Bullish forming Monthly Support around 182.440 leaving a Rejection wick at 178.050.
– Buys on close above 184.640 targeting 1h Resistance formed on 6th September 2023 around 185.170, Leaving Runners to the Daily Resistance formed around 185.550.
– Sells on close below 183.840 targeting 1h Support formed around 183.180, Leaving Runners to the 4h previous Resistance formed around 182.500.
– Ideally is to wait for price to break out of the range during high volume time as October Monthly candle closed with no wick at the top and we also have new Monthly candle for November opening.
– Buys on close above 184.640 targeting 1h Resistance formed on 6th September 2023 around 185.170, Leaving Runners to the Daily Resistance formed around 185.550.
– Sells on close below 183.840 targeting 1h Support formed around 183.180, Leaving Runners to the 4h previous Resistance formed around 182.500.
– Ideally is to wait for price to break out of the range during high volume time as October Monthly candle closed with no wick at the top and we also have new Monthly candle for November opening.
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