GBPJPY Technical Analysis 22.01.2024 1h chart
– Previous Weekly candle closed strong Bullish around 188.130 tapping into Weekly Resistance formed on 27th November 2023, Friday Daily candle closed Doji Bearish forming Daily Resistance around 188.230 leaving a Rejection wick to the upside around 188.940.
– Buys on close above 188.300 targeting 4h Resistance formed around 188.770, Leaving Runners to the previous Weekly Support formed on 13th July 2015 around 189.330.
– Sells on close below 187.690 targeting 4h Support formed around 187.380, Leaving Runners to the previous Monthly Resistance formed in December last year (2023) around 187.000.
– Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open.
– Buys on close above 188.300 targeting 4h Resistance formed around 188.770, Leaving Runners to the previous Weekly Support formed on 13th July 2015 around 189.330.
– Sells on close below 187.690 targeting 4h Support formed around 187.380, Leaving Runners to the previous Monthly Resistance formed in December last year (2023) around 187.000.
– Ideally is to allow the Asian session to form a new range for the new week ahead and wait for high volume time around the Pre London / London session open.