GBPJPY Technical Analysis 08.04.2022 1h chart

Previous Daily Candle closed Bullish below Daily Resistance on the left but didn’t break the Wednesday Daily High or Low showing signs of exhaustion for Buys, 4h Time Frame Consolidating between 161.600 – 162.200, when looking on the Hourly Time Frame price is holding Major Support at 161.700.

Buys on close above 162.270 as price breaks above the previous 2 Daily Highs targeting 1h Resistance at 162.620 leaving Runners to 163.060.

Sells on close below 161.950 as price breaks below most recent Support on the Hourly targeting strong 1h Support at 161.680 leaving Runners to 161.410 which could be a potential Wick Fill as price rejected Daily Resistance and closed below.