GBPJPY Technical Analysis 28.12.2022 1h chart

– Previous Daily candle closed Bullish at 160.540, the Overall 4h and 1h timeframe has been consolidating due to lack of volume during the Bank Holiday.
– Buys on close above 160.810 as price breaks above a strong 4h Resistance targeting 1h Resistance at 161.210, Leaving Runners to the 1h Resistance at 161.900.
– Sells on close below 160.150 below 1h strong Support targeting 4h Resistance at 159.750, Leaving Runners to the Daily Support formed on Friday 23rd December 2022 at 159.280.
– Clean range above 160.810 on the 4h timeframe to 162.830 from the previous 4h Support formed on 13th October 2022, due to Holiday Season there is high probability for price to tap small levels of Support and Resistances like hourly, 30min, and 15min timeframe before having to see bigger moves.