GBPJPY Technical Analysis 17.04.2023 1h chart
– Previous Weekly candle closed Strong Bullish at 165.990 just within the Rejection wick formed on the last weekly candle of February 2023, Friday Daily candle closed weak Bullish as price has been ranging across all the sessions.
– Buys on close above 166.300 targeting 1h Resistance 166.170, Leaving Runners to the 1h Resistance formed on 16th December 2022 at 167.100.
– Sells on close below 165.880 targeting 1h Support at 165.620, Leaving Runners to the 4h Support formed at 165.350.
– Ideally is to wait for price to break out of the No Trade Zone with price confirmation.
– Buys on close above 166.300 targeting 1h Resistance 166.170, Leaving Runners to the 1h Resistance formed on 16th December 2022 at 167.100.
– Sells on close below 165.880 targeting 1h Support at 165.620, Leaving Runners to the 4h Support formed at 165.350.
– Ideally is to wait for price to break out of the No Trade Zone with price confirmation.