GBPJPY Technical Analysis 02.06.2023 1h chart
– Previous Daily candle closed Bullish at 173.820 forming new Daily Support around 173.300.
– Buys on close above 174.100 targeting Daily Resistance formed on 2nd February 2016 at 174.580, Leaving Runners to the Weekly Rejection formed on 1st February 2016 at 175.020.
– Sells on close below 173.580 targeting Daily Support formed at 173.300, Leaving Runners to the 1h Support formed at 173.020.
– Despite the Thursday Daily candle closing Bullish above the weak Daily Resistance formed this week price is still consolidating on the 4h and 1h timeframe so ideally is to wait for a good confirmation before taking any positions.
– Buys on close above 174.100 targeting Daily Resistance formed on 2nd February 2016 at 174.580, Leaving Runners to the Weekly Rejection formed on 1st February 2016 at 175.020.
– Sells on close below 173.580 targeting Daily Support formed at 173.300, Leaving Runners to the 1h Support formed at 173.020.
– Despite the Thursday Daily candle closing Bullish above the weak Daily Resistance formed this week price is still consolidating on the 4h and 1h timeframe so ideally is to wait for a good confirmation before taking any positions.
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