GBPJPY Technical Analysis 29.01.2024 1h chart
– Previous Weekly candle closed Doji Bearish around 188.070 forming weak Weekly Resistance around 188.120 rejecting the previous Weekly High, Friday Daily candle closed Bullish forming Daily Support around 188.560.
– Buys on close above 188.440 targeting 4h Resistance around 188.790, Leaving Runners to the Weekly previous Support formed on 13th july 2015 around 189.320.
– Sells on close below 187.930 targeting Daily Support formed around 187.550, Leaving Runners to the 4h Strong Support formed on 17th January 2024 around 187.120.
– Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open. also a strong confirmation is needed as price still ranging on the Daily timeframe.
– Buys on close above 188.440 targeting 4h Resistance around 188.790, Leaving Runners to the Weekly previous Support formed on 13th july 2015 around 189.320.
– Sells on close below 187.930 targeting Daily Support formed around 187.550, Leaving Runners to the 4h Strong Support formed on 17th January 2024 around 187.120.
– Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open. also a strong confirmation is needed as price still ranging on the Daily timeframe.