GBPJPY Technical Analysis 14.04.2023 1h chart
– Previous Daily candle closed weak Bearish at 165.930 forming new Daily Resistance at 166.120 leaving a Rejection wick at 166.840.
– Buys on close above 166.320 targeting 4h Resistance at 166.730, Leaving Runners to the 1h Resistance formed on 16th December 2022 at 167.100.
– Sells on close below 165.830 targeting 4h Support formed at 165.540, Leaving Runners to the 1h Support formed at 165.280.
– There is a higher probability for the Friday Daily candle to close Bearish as we can see the size of the Daily candles for Tuesday and Wednesday decreasing and the Thursday candle closing Bearish with a Rejection to the upside.
– Buys on close above 166.320 targeting 4h Resistance at 166.730, Leaving Runners to the 1h Resistance formed on 16th December 2022 at 167.100.
– Sells on close below 165.830 targeting 4h Support formed at 165.540, Leaving Runners to the 1h Support formed at 165.280.
– There is a higher probability for the Friday Daily candle to close Bearish as we can see the size of the Daily candles for Tuesday and Wednesday decreasing and the Thursday candle closing Bearish with a Rejection to the upside.