GBPJPY Technical Analysis 22.05.2023 1h chart
– Previous Weekly candle closed Bullish at 171.620 forming new Weekly Support around 168.920, Friday Daily candle closed Bearish forming new Daily Resistance at 172.060.
– Buys on close above 171.930 targeting 30min Resistance at 172.330, Leaving Runners to the Weekly previous Resistance formed on 1st February 2016 at 172.900.
– Sells on close below 171.210 targeting 4h previous Resistance formed on 10th May 2023 at 170.810, Leaving Runners to the 4h Support formed at 170.310.
– Ideally is to wait for price to consolidate during the Asian session to have a better probability trading setup around the London session.
– Buys on close above 171.930 targeting 30min Resistance at 172.330, Leaving Runners to the Weekly previous Resistance formed on 1st February 2016 at 172.900.
– Sells on close below 171.210 targeting 4h previous Resistance formed on 10th May 2023 at 170.810, Leaving Runners to the 4h Support formed at 170.310.
– Ideally is to wait for price to consolidate during the Asian session to have a better probability trading setup around the London session.
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