GBPJPY Technical Analysis 25.05.2023 1h chart
– Previous Daily candle closed Bullish at 172.420 as the Daily consolidating for almost 1 week.
– Buys on close above 172.660 targeting Weekly Resistance formed on 1st February 2016 at 172.900, Leaving Runners to the 4h Resistance formed on 3rd February 2016 at 173.300.
– Sells on close below 171.960 targeting Daily Support formed at 171.650, Leaving Runners to the 4h Support formed at 171.340.
– Ideally is to wait for a better confirmation during high volume time and to secure when possible as price consolidating on the higher timeframe.
– Buys on close above 172.660 targeting Weekly Resistance formed on 1st February 2016 at 172.900, Leaving Runners to the 4h Resistance formed on 3rd February 2016 at 173.300.
– Sells on close below 171.960 targeting Daily Support formed at 171.650, Leaving Runners to the 4h Support formed at 171.340.
– Ideally is to wait for a better confirmation during high volume time and to secure when possible as price consolidating on the higher timeframe.
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