GBPJPY Technical Analysis 05.12.2023 1h chart
– Previous Daily candle closed weak Bearish around 185.910 rejecting the Daily Consolidation Zone formed at the beginning of November.
– Buys on close above 186.160 targeting 1h Resistance formed around 186.660, Leaving Runners to the Daily Resistance formed around 187.040.
– Sells on close below 185.400 targeting 4h Support formed around 185.060, Leaving Runners to the 30min Support formed around 184.650.
– As Monday Daily candle closed Weak Bearish there is still a probability for price to retest the Rejection Area.
– Buys on close above 186.160 targeting 1h Resistance formed around 186.660, Leaving Runners to the Daily Resistance formed around 187.040.
– Sells on close below 185.400 targeting 4h Support formed around 185.060, Leaving Runners to the 30min Support formed around 184.650.
– As Monday Daily candle closed Weak Bearish there is still a probability for price to retest the Rejection Area.