GBPJPY Technical Analysis 12.04.2023 1h chart
– Previous Daily candle closed Bullish at 166.010 below the Rejection wick formed on 4th April 2023.
– Buys on close above 166.200 targeting 4h Resistance formed on 20th December 2022 at 166.820, Leaving Runners to the 1h Resistance formed on 16th December 2022 at 167.100.
– Sells on close below 165.800 targeting 4h Resistance at 165.460, Leaving Runners to the 30min Support formed at 165.190.
– Based on how the Tuesday Daily candle closed the Wednesday Daily candle could potentially close Bearish forming Resistance as price haven’t broken above the Daily Rejection formed the 4th April 2023.
– Buys on close above 166.200 targeting 4h Resistance formed on 20th December 2022 at 166.820, Leaving Runners to the 1h Resistance formed on 16th December 2022 at 167.100.
– Sells on close below 165.800 targeting 4h Resistance at 165.460, Leaving Runners to the 30min Support formed at 165.190.
– Based on how the Tuesday Daily candle closed the Wednesday Daily candle could potentially close Bearish forming Resistance as price haven’t broken above the Daily Rejection formed the 4th April 2023.