GBPJPY Technical Analysis 05.06.2023 1h chart
– Previous Weekly candle closed Bullish at 174.120, Friday Daily candle also closed Bullish but left a slight Rejection to the upside.
– Buys on close above 174.350 targeting the Friday Daily High for a Wick Fill at 174.690, Leaving Runners to the Weekly Rejection formed on 1st February 2016 at 175.020.
– Sells on close below 173.680 targeting Daily Support formed at 173.300, Leaving Runners to the 1h Support formed at 173.020.
– Overall price have been Consolidating on the Daily timeframe from last week and possibly price could form a Rejection to the Upside as the last Weekly candle closes small Bullish compared to the previous 2 Weekly candles.
– Buys on close above 174.350 targeting the Friday Daily High for a Wick Fill at 174.690, Leaving Runners to the Weekly Rejection formed on 1st February 2016 at 175.020.
– Sells on close below 173.680 targeting Daily Support formed at 173.300, Leaving Runners to the 1h Support formed at 173.020.
– Overall price have been Consolidating on the Daily timeframe from last week and possibly price could form a Rejection to the Upside as the last Weekly candle closes small Bullish compared to the previous 2 Weekly candles.
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