GBPJPY Technical Analysis 03.01.2024 1h chart
– Previous Daily candle closed small Bearish around 179.160 leaving a huge Rejection to the upside around 180.640.
– Buys on close above 179.370 targeting 1h Strong Resistance formed around 179.760, Leaving Runners to the 4h Resistance formed around 180.100.
– Sells on close below 178.730 targeting Daily Support formed around 178.380, Leaving Runners to the Monthly Rejection formed in October last year (2023) around 178.020.
– Overall price has been moving decently on the Hourly timeframe but Daily candles still ranging within Weekly Rejection area formed in October and December last year.
– Buys on close above 179.370 targeting 1h Strong Resistance formed around 179.760, Leaving Runners to the 4h Resistance formed around 180.100.
– Sells on close below 178.730 targeting Daily Support formed around 178.380, Leaving Runners to the Monthly Rejection formed in October last year (2023) around 178.020.
– Overall price has been moving decently on the Hourly timeframe but Daily candles still ranging within Weekly Rejection area formed in October and December last year.