GBPJPY Technical Analysis 05.05.2023 1h chart
– Previous Daily candle closed Bearish at 168.740 almost retesting the previous Daily Resistance formed last week.
– Buys on close above 168.930 targeting 4h Resistance at 169.240, Leaving Runners to the 30min Resistance formed at 169.840.
– Sells on close below 168.550 targeting 1h Support at 168.220, Leaving Runners to the Daily previous Resistance formed on 25th April 2023 at 167.550.
– Currently the Weekly trading Bearish and more likely Weekly will form Resistance with a minor Rejection wick to the upside respecting Weekly Resistance formed on 31st October 2022.
– Buys on close above 168.930 targeting 4h Resistance at 169.240, Leaving Runners to the 30min Resistance formed at 169.840.
– Sells on close below 168.550 targeting 1h Support at 168.220, Leaving Runners to the Daily previous Resistance formed on 25th April 2023 at 167.550.
– Currently the Weekly trading Bearish and more likely Weekly will form Resistance with a minor Rejection wick to the upside respecting Weekly Resistance formed on 31st October 2022.
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