GBPJPY Technical Analysis 01.08.2023 1h chart
– Previous Daily candle closed strong Bullish at 182.530 above recent Daily Resistance formed on 24th July 2023.
– Buys on close above 183.050 targeting 4h Resistance at 183.500, Leaving Runners to the 4h Strong Resistance formed at 183.830.
– Sells on close below 182.140 targeting 1h previous Resistance formed at 181.510, Leaving Runners to the 1h Support formed at 180.870.
– As the Monday Daily candle closed Bullish with hardly no wick at the bottom meaning also the Weekly hasn’t formed bottom wick either, So the High formed on Monday could be the Weekly retesting previous Weekly Resistance before price starts to retrace.
– Buys on close above 183.050 targeting 4h Resistance at 183.500, Leaving Runners to the 4h Strong Resistance formed at 183.830.
– Sells on close below 182.140 targeting 1h previous Resistance formed at 181.510, Leaving Runners to the 1h Support formed at 180.870.
– As the Monday Daily candle closed Bullish with hardly no wick at the bottom meaning also the Weekly hasn’t formed bottom wick either, So the High formed on Monday could be the Weekly retesting previous Weekly Resistance before price starts to retrace.
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