GBPJPY Technical Analysis 1h chart
– Previous Daily candle closed Doji Bullish candle at 160.950 forming weak Daily Support at 160.860 within the Daily Consolidation zone.
– Buys on close above 160.584 targeting 4h Resistance at 160.912, Leaving Runners to the 1h Resistance at 160.912.
– Sells on close below 159.894 targeting 1h Support at 159.512, Leaving Runners to the next 1h Support at 159.264.
– Overall price is still in Consolidation Zone within the Daily and 4h timeframe prior to the Bank Rate Review on Thursday 2nd February.
– Buys on close above 160.584 targeting 4h Resistance at 160.912, Leaving Runners to the 1h Resistance at 160.912.
– Sells on close below 159.894 targeting 1h Support at 159.512, Leaving Runners to the next 1h Support at 159.264.
– Overall price is still in Consolidation Zone within the Daily and 4h timeframe prior to the Bank Rate Review on Thursday 2nd February.
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