GBPJPY Technical Analysis 27.01.2023 1h chart

– Previous Daily candle closed Bullish at 161.520 closing below Daily Resistance formed on 24th January 2023.
– Buys on close above 161.750 targeting 30min Resistance at 162.280, Leaving Runners to the 4h previous Support formed on 13th October 2022 at 162.820.
– Sells on close below 161.160 targeting 1h Support at 160.830, Leaving Runners to the Daily Support at 160.550.
– Currently the Daily timeframe is forming a Consolidation rejecting the previous Weekly Highs formed on the last week of December 2022.