GBPJPY Technical Analysis 03.10.2022 1h chart

– Previous Monthly candle closed Doji Bullish at 161.540, Weekly close Bullish forming Support at 155.070 and Daily Closing Bullish at same level as Monthly Close (161.540).
– Buys on close above 161.900 as price breaks above 4h recent Resistance targeting Daily Previous Resistance formed on (18.08.2022) at 162.600 leaving Runners to 4h previous Strong Support formed on (19.09.2022) at 163.000.
– Sells on close below 161.030 targeting 30min Support / 4h Previous Support at 160.530 leaving Runners to 4h Support at 159.980.
– As it is the start of the new Monthly candle and the previous Weekly candle formed Support ideally what we wanna look for GBPJPY is  for the new Weekly candle to form bottom wick to at least 160.530 retesting the previous Daily Support.