GBPJPY Technical Analysis 08.09.2023 1h chart
– Previous Daily candle closed Bearish at 183.680 closing just within the recent Daily Support formed on Friday 25th August 2023.
– Buys on close above 184.050 targeting 1h Resistance around 184.540, Leaving Runners to the Weekly Resistance formed around 184.910.
– Sells on close below 183.380 targeting Daily previous Resistance formed on 2nd August 2023 at 183.060, Leaving Runners to the Monthly Support formed around 182.530.
– As Weekly is forming a Rejection to the upside, once the Thursday Daily Low is broken there is a higher probability for price to retest the recent Monthly Support.
– Buys on close above 184.050 targeting 1h Resistance around 184.540, Leaving Runners to the Weekly Resistance formed around 184.910.
– Sells on close below 183.380 targeting Daily previous Resistance formed on 2nd August 2023 at 183.060, Leaving Runners to the Monthly Support formed around 182.530.
– As Weekly is forming a Rejection to the upside, once the Thursday Daily Low is broken there is a higher probability for price to retest the recent Monthly Support.
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