GBPJPY Technical Analysis 21.07.2022 1h chart
– Previous Daily candle closed Bearish forming Resistance on the Daily at 165.700 as the previous Daily Resistance formed on (28.06.2022) was tapped then price rejected that Zone.
– Buys on close above 165.700 targeting Daily / 1h Resistance at 166.120 leaving Runners to 1h Resistance formed at 166.460.
– Sells on close below 165.270 targeting 4h Support at 164.950 leaving Runners to 1h previous broken Resistance formed on (18.07.2022) at 164.590.
– We have a Bank Rate review from the Bank Of Japan during the Asian Session expecting BOJ to keep rates the same at -0.10% retaining the easy policy but set to raise its inflation forecast and warn of risks to a fragile economy.
– Previous Daily candle closed Bearish forming Resistance on the Daily at 165.700 as the previous Daily Resistance formed on (28.06.2022) was tapped then price rejected that Zone.
– Buys on close above 165.700 targeting Daily / 1h Resistance at 166.120 leaving Runners to 1h Resistance formed at 166.460.
– Sells on close below 165.270 targeting 4h Support at 164.950 leaving Runners to 1h previous broken Resistance formed on (18.07.2022) at 164.590.
– We have a Bank Rate review from the Bank Of Japan during the Asian Session expecting BOJ to keep rates the same at -0.10% retaining the easy policy but set to raise its inflation forecast and warn of risks to a fragile economy.