GBPJPY Technical Analysis 27.07.2022 1h chart

– Previous Daily candle closed weak Bullish at 164.610 leaving a huge Rejection wick for the downside.
– Buys on close above 164.930 targeting 4h previous Strong Support formed on (21.07.2022) at 165.340 leaving Runners to Weekly / 4h Resistance at 165.870.
– Sells on close below 164.270 targeting 4h Support at 163.850 leaving Runners to Daily / 4h Support at 162.230.
– Buys are more likely to play out based on the Weekly and Daily as the price is still holding Support.