GBPJPY Technical Analysis 04.12.2023 1h chart
– Previous Weekly candle closed Bearish around 186.460 forming Weekly Resistance around 188.240, Friday Daily candle closed weak Bearish within the recent new Daily Range formed last week.
– Buys on close above 186.830 targeting 4h Resistance around 187.330, Leaving Runners to the 1h Resistance formed around 187.630.
– Sells on close below 186.180 targeting 1h Support around 185.770, Leaving Runners to the Daily Support formed around 185.450.
– Ideally is to allow the Asian session to form a new range and wait for high volume time as price more likely to respect recent Weekly Resistance and continue to the downside.
– Buys on close above 186.830 targeting 4h Resistance around 187.330, Leaving Runners to the 1h Resistance formed around 187.630.
– Sells on close below 186.180 targeting 1h Support around 185.770, Leaving Runners to the Daily Support formed around 185.450.
– Ideally is to allow the Asian session to form a new range and wait for high volume time as price more likely to respect recent Weekly Resistance and continue to the downside.