GBPJPY Technical Analysis 25.01.2024 1h chart
– Previous Daily candle closed Bearish around 187.630 breaking out of the recent Daily Range.
– Buys on close above 187.850 targeting 4h Resistance formed around 188.370, Leaving Runners to the next 4h Resistance formed around 188.790.
– Sells on close below 187.130 targeting 1h previous Resistance formed on 1st December 2023 around 186.660, Leaving Runners to the next 1h previous Resistance formed on 17th January 2024 around 186.260.
– As price breaking out of the 4h and Daily range, there is a higher probability for price to correct the Bullish Daily candle formed on Wednesday 17th January 2024.
– Buys on close above 187.850 targeting 4h Resistance formed around 188.370, Leaving Runners to the next 4h Resistance formed around 188.790.
– Sells on close below 187.130 targeting 1h previous Resistance formed on 1st December 2023 around 186.660, Leaving Runners to the next 1h previous Resistance formed on 17th January 2024 around 186.260.
– As price breaking out of the 4h and Daily range, there is a higher probability for price to correct the Bullish Daily candle formed on Wednesday 17th January 2024.