GBPJPY Technical Analysis 03.05.2023 1h chart
– Previous Daily candle closed Bearish at 170.110 forming Daily Resistance at 171.700 as price rejects the Monthly Highs formed in October 2022.
– Buys on close above 170.540 targeting 1h previous Support formed at 170.940, Leaving Runners to the 30min Resistance formed at 171.470.
– Sells on close below 169.950 targeting 1h Support formed at 169.400, Leaving Runners to the 1h Support formed at 168.770.
– There is a probability for the new Daily candle to respect Daily Resistance formed on Tuesday 2nd May 2023 to correct the Bullish move that happened on Friday 28th April 2023.
– Buys on close above 170.540 targeting 1h previous Support formed at 170.940, Leaving Runners to the 30min Resistance formed at 171.470.
– Sells on close below 169.950 targeting 1h Support formed at 169.400, Leaving Runners to the 1h Support formed at 168.770.
– There is a probability for the new Daily candle to respect Daily Resistance formed on Tuesday 2nd May 2023 to correct the Bullish move that happened on Friday 28th April 2023.