GBPJPY Technical Analysis 01.03.2023 1h chart

– Previous Daily candle closed Bearish at 163.590 with no wick to the bottom forming Daily Resistance at 164.160 and leaving a Rejection wick at around 166 level as price tapped into the Daily Resistance formed on 20th December 2022.
– Buys on close above 164.100 targeting 30min previous Support formed at 164.590, Leaving Runners to the 1h previous Support formed at 165.040.
– Sells on close below 163.240 targeting 4h Support at 162.760, Leaving Runners to the 1h Support at 162.310.
– Bank Of England Governor Andrew Bailey due to speak at the Cost of Living Crisis Conference organized by the Brunswick Group in London during the London session.