GBPJPY Technical Analysis 21.12.2023 1h chart
– Previous Daily candle closed Bearish around 181.340 forming Daily Resistance around 183.070.
– Buys on close above 181.540 targeting 1h previous Support formed around 181.960, Leaving Runners to the 4h Resistance formed around 182.330.
– Sells on close below 181.090 targeting Weekly previous Support formed on 7th August 2023 around 180.660, Leaving Runners to the 4h Support formed around 180.340.
– As Daily Resistance has been formed and price corrected the whole Bullish move we’ve had on Tuesday retracing to the recent Daily Range Zone, there is a probability for the next 2 Daily candles (Thursday & Friday) to range.
– Buys on close above 181.540 targeting 1h previous Support formed around 181.960, Leaving Runners to the 4h Resistance formed around 182.330.
– Sells on close below 181.090 targeting Weekly previous Support formed on 7th August 2023 around 180.660, Leaving Runners to the 4h Support formed around 180.340.
– As Daily Resistance has been formed and price corrected the whole Bullish move we’ve had on Tuesday retracing to the recent Daily Range Zone, there is a probability for the next 2 Daily candles (Thursday & Friday) to range.