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Bankholiday

GBPJPY Technical Analysis 10.04.2023 1h chart– Previous Weekly candle closed Doji Bullish at 164.400 leaving a Rejection wick to the upside, Friday Daily candle also closed Bullish respecting Daily Support formed on Thursday at 163.480. – Buys on close above 164.250 targeting Daily Resistance formed on 5th April 2023 at 164.580, Leaving Runners to the 30min Resistance at 164.990. – Sells on close below 163.820 targeting 4h / 1h Support formed at 163.550, Leaving Runners to the 4h Support formed at 163.200. – Price have ranged overall during the Friday market session and could also possibly range on Monday as UK Banks will be closed in observance of Easter Monday.
by SalimFX20
U.S Labour Day - "Thin Market"Just a gentle reminder to my fellow retail traders, beginners traders to be exact (professional traders, stay away! - This could be a patronizing post), today is U.S Labour Day. The banks are closed. The massive movers of the price are indeed the banks, so when they are closed, even though we can still trade USD pairs today, expect a very very small range price action today. The USD based pairs I am referring to even include Gold, XAUUSD and WTI/USD-Brent). Don't ask me Bitcoin vs USD. No clue about that! I roughly looked at Labour Days in 2016, 2017 and 2018 for the world's most liquid currency pair on the planet, the ranges at those days were indeed well below the average daily range at the time (Average = Avg 10 days +Avg 20 days + Avg 30 days). Cross pairs are game for today, their ranges are normal. Happy Trading!
by sufiansaid