GBPJPY Technical Analysis 29.11.2022 1h chart

– Previous Daily candle closed strong Bearish at 166.130, breaking below Daily Consolidation Zone formed last week.
– Buys on close above 166.220 targeting 4h previous Support formed at 166.540, Leaving Runners to the 1h Resistance formed at 167.050.
– Sells on close below 165.840 breaking below previous Daily candle low targeting 1h Support formed at 165.570, Leaving Runners to the 4h Support at 165.300.
– For Sells to play out well ideally is to wait for price to retest the Daily Rejection wick from Thursday to then break the previous Daily low to potentially retest the Daily / Weekly Support formed at 164.120.