GBPJPY Technical Analysis 30.05.2022 1h chart

– Previous Daily candle closed Bullish respecting the Thursdays Highs and Lows as the 4h timeframe consolidated between 160.260 – 160.660.
– Buys on close above 160.660 targeting Daily / 4h Resistance at 160.990 leaving Runners to 1h Resistance at 161.320.
– Sells on close below 160.260 targeting 4h Support at 160.050 leaving Runners to 1h Support at 159.780.
– As the Monthly candle coming to a close in 2 days price consolidating is expected so it is ideal to look for higher probability trade setups with strong confirmation and managing risk when needed.