GBPJPY Technical Analysis 04.05.2023 1h chart
– Previous Daily candle closed Bearish at 169.160 respecting Daily Resistance formed on Tuesday 2nd May 2023.
– Buys on close above 169.470 targeting 30min Resistance at 169.890, Leaving Runners to the 1h Resistance formed at 170.210.
– Sells on close below 168.780 targeting 30min Support formed at 168.170, Leaving Runners to the Daily previous Resistance formed on 25th April 2023 at 167.550.
– There is still a probability for price to retest the Daily Resistance formed on 25th April 2023 correcting the Bullish move from Friday 28th April 2023.
– Buys on close above 169.470 targeting 30min Resistance at 169.890, Leaving Runners to the 1h Resistance formed at 170.210.
– Sells on close below 168.780 targeting 30min Support formed at 168.170, Leaving Runners to the Daily previous Resistance formed on 25th April 2023 at 167.550.
– There is still a probability for price to retest the Daily Resistance formed on 25th April 2023 correcting the Bullish move from Friday 28th April 2023.
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