GBPJPY Technical Analysis 02.05.2023 1h chart– Previous Daily candle closed Bullish at 171.700 tapping into the Monthly Highs of October 2022.
– Buys on close above 172.060 targeting 4h Resistance formed on 4th February 2016 at 172.420, Leaving Runners to the Weekly Resistance formed on 1st February 2016 at 172.900.
– Sells on close below 171.510 targeting 4h Support formed at 171.220, Leaving Runners to the 1h Strong Support formed at 170.920.
– Despite the Daily closing Bullish there is a probability for the Tuesday Daily candle to close Bearish forming Resistance as price is trading within the 2022 Highs.
SFX
$SFX #ASX - Sheffield Resources going for a run? Bought this one as it broke $1 a couple of weeks ago. Might go for a bit of a run today on news of new mining lease approval. All the indicators I watch look pretty good at the moment. Has broken through resistance. Stops in. DYOR.
Sheffield Resources Limited is an exploration company. The Company is principally engaged in the exploration for mineral sands, including zircon and titanium minerals, and base metals within the state of Western Australia. The Company is focused on its Thunderbird Heavy Mineral Sands (HMS) project, which is located near Derby in Western Australia. The Company is also focused on exploring the Fraser Range project for nickel sulfide deposits and the Eneabba and McCalls projects north of Perth, Western Australia for mineral sands deposits. The Company's project includes Thunderbird Mineral Sands project, Derby East project, Oakover Copper-Manganese project and Eneabba project. The Thunderbird Mineral Sands project located in the Canning Basin in northern Western Australia. The Company's Derby East project consists of five granted tenements E04/2390, E04/2391, E04/2392, E04/2393 and E04/2394 with a total area of approximately 1,831 square kilometers.