GBPJPY Technical Analysis 04.04.2023 1h chart
– Previous Daily candle closed Bullish at 164.400 above recent Daily Resistance formed on Friday 31st March 2023.
– Buys on close above 164.550 targeting 4h Resistance at 164.900, Leaving Runners to the 1h Resistance at 165.220.
– Sells on close below 164.000 targeting 4h Support at 163.700, Leaving Runners to the 30min Support formed at 163.500.
– Targets are smaller compared to the No Trade Zone but it is important to pay attention to the level of Resistance and how Daily and 4h candles are forming.
– Buys on close above 164.550 targeting 4h Resistance at 164.900, Leaving Runners to the 1h Resistance at 165.220.
– Sells on close below 164.000 targeting 4h Support at 163.700, Leaving Runners to the 30min Support formed at 163.500.
– Targets are smaller compared to the No Trade Zone but it is important to pay attention to the level of Resistance and how Daily and 4h candles are forming.