GBPJPY Technical Analysis 27.12.2022 1h chart

– Previous Weekly candle closed strong Bearish at 159.920 breaking through 3 Strong Weekly Support formed on the 5th December 2022 at 165.060, 14th November 2022 at 164.110 and 10th October 2022 at 160.940.
– Buys on close above 160.350 targeting 4h Resistance at 160.620, Leaving Runners to the 1h Resistance formed at 160.850.
– Sells on close below 159.660 as price breaks below strong 4h Support area targeting Daily / 1h Support at 159.240, Leaving Runners to the 1h Support at 159.000.
– Tuesday 27th December 2022 is UK Bank Holiday in observance of  Christmas Day, The impact of bank holidays on the financial markets can vary. In some cases, market activity may be relatively quiet on a bank holiday due to reduced trading volumes and the absence of significant economic data releases or other market-moving events. In other cases, the markets may be more active due to events such as unexpected news during the holiday period.