GBPJPY Technical Analysis 01.02.2023 1h chart

– Previous Daily candle closed Bearish at 160.160 below recent Daily Support formed on Wednesday 25th January 2023, forming new Daily Resistance at 160.950.
– Buys on close above 160.550 targeting 1h Strong Resistance at 160.770, Leaving Runners to the 1h Resistance at 161.150.
– Sells on close below 159.920 targeting 1h Support at 159.600, Leaving Runners to the next 1h Support at 159.340.
– Previous Monthly candle closed Bullish forming Monthly Support at 158.430, However the Daily has formed Resistance and the next target area for Sells on the higher timeframe would be 159.060.