GBPJPY Technical Analysis 21.07.2023 1h chart
– Previous Daily candle closed Bearish at 180.150 closing above Daily Support formed on Thursday 13th July 2023.
– Buys on close above 180.720 targeting 30min Resistance at 181.180, Leaving Runners to the Daily Resistance formed on 17th July 2023 at 181.670.
– Sells on close below 179.850 targeting 1h Support at 179.480, Leaving Runners to the 4h Support formed at 179.130.
– Overall price still in a large consolidation zone so waiting for a confirmation is really important, would be good to see small Daily Support to be formed on Friday to then have the next Daily candle for next week to break below recent Support correcting the Bullish move on the Weekly candle formed on 12th June 2023.
– Buys on close above 180.720 targeting 30min Resistance at 181.180, Leaving Runners to the Daily Resistance formed on 17th July 2023 at 181.670.
– Sells on close below 179.850 targeting 1h Support at 179.480, Leaving Runners to the 4h Support formed at 179.130.
– Overall price still in a large consolidation zone so waiting for a confirmation is really important, would be good to see small Daily Support to be formed on Friday to then have the next Daily candle for next week to break below recent Support correcting the Bullish move on the Weekly candle formed on 12th June 2023.