GBPJPY Technical Analysis 22.08.2023 1h chart
– Previous Daily candle closed strong Bullish at 186.430 breaking and closing above Daily Resistance formed on Thursday 17th August 2023, Monday Daily candle also formed Support around 184.900.
– Buys on close above 186.750 targeting previous Daily Resistance formed on 31st August 2015 at 187.500, Leaving Runners to the Daily Resistance formed on 19th November 2015 at 188.370.
– Sells on close below 186.120 targeting 4h previous Support formed on 16th August 2023 at 185.550, Leaving Runners to the 1h Strong Support formed at 185.100.
– Price is trading at strong higher timeframe Resistance on the Monthly and Weekly, so we could possibly see a weekly Rejection, Also the current Weekly candle hasn’t formed a bottom wick either. despite the price being extremely Bullish it is important to pay attention to where price trading at the moment.
– Buys on close above 186.750 targeting previous Daily Resistance formed on 31st August 2015 at 187.500, Leaving Runners to the Daily Resistance formed on 19th November 2015 at 188.370.
– Sells on close below 186.120 targeting 4h previous Support formed on 16th August 2023 at 185.550, Leaving Runners to the 1h Strong Support formed at 185.100.
– Price is trading at strong higher timeframe Resistance on the Monthly and Weekly, so we could possibly see a weekly Rejection, Also the current Weekly candle hasn’t formed a bottom wick either. despite the price being extremely Bullish it is important to pay attention to where price trading at the moment.
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