GBPJPY Technical Analysis 18.07.2023 1h chart
– Previous Daily candle closed Bearish at 181.260 forming Daily Resistance at 181.670.
– Buys on close above 181.630 targeting 4h Resistance at 182.030, Leaving Runners to the 4h previous Support formed on 9th July 2023 at 182.390.
– Sells on close below 181.110 targeting 4h Support at 180.640, Leaving Runners to the 15min Support formed at 180.310.
– Overall price has formed another 4h consolidation zone on Monday’s trading session which is the current No Trade Zone identified on this analysis, Ideally is to wait for price to breakout of this zone during high volume time.
– Buys on close above 181.630 targeting 4h Resistance at 182.030, Leaving Runners to the 4h previous Support formed on 9th July 2023 at 182.390.
– Sells on close below 181.110 targeting 4h Support at 180.640, Leaving Runners to the 15min Support formed at 180.310.
– Overall price has formed another 4h consolidation zone on Monday’s trading session which is the current No Trade Zone identified on this analysis, Ideally is to wait for price to breakout of this zone during high volume time.
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