GBPJPY Technical Analysis 23rd February 2024 1h chart

British Pound / Japanese Yen (FX:GBPJPY)

FX:GBPJPY British Pound / Japanese Yen

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– Thursday Daily candle closed Bullish as price fills the previous Weekly High. I’ll be looking for potential Buys above 190.800 targeting previous Daily Support formed on 28th July 2015 around 191.460 and previous Weekly Support formed on 27th July 2015 around 191.850. I’ll be looking for potential Sells below 190.250 targeting 1h Support formed at 189.800 and previous 4h Resistance formed at 189.500. Despite current Weekly candle trending Bullish, there is a slight probability for price to retrace on the Weekly meaning Friday Daily candle could possibly form Resistance.

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