GBPJPY Technical Analysis 19.01.2024 1h chart
– Previous Daily candle closed Bullish around 188.230 within the previous Daily Resistance formed on Monday 27th November 2023.
– Buys on close above 188.510 targeting Monthly Rejection formed in November 2015, Leaving Runners to the previous Weekly Support formed on 13th July 2015 around 189.330.
– Sells on close below 187.860 targeting 1h Support formed around 187.490, Leaving Runners to the 4h Support formed around 187.090.
– As price approaching 2023 year high there is a probability for price to form a Resistance and retrace before the continuation to the upside.
– Buys on close above 188.510 targeting Monthly Rejection formed in November 2015, Leaving Runners to the previous Weekly Support formed on 13th July 2015 around 189.330.
– Sells on close below 187.860 targeting 1h Support formed around 187.490, Leaving Runners to the 4h Support formed around 187.090.
– As price approaching 2023 year high there is a probability for price to form a Resistance and retrace before the continuation to the upside.