GBPJPY Technical Analysis 01.06.2023 1h chart
– Previous Daily candle closed Bearish at 173.300 leaving a Rejection wick around 172.520.
– Buys on close above 173.570 targeting 1h Resistance at 173.950, Leaving Runners to the 30min Resistance at 174.290.
– Sells on close below 173.020 targeting 1h Support at 172.670, Leaving Runners to the 4h Support formed around 172.310.
– As Wednesday Daily candle closed back within the range it would be ideal to wait for confirmation before taking positions and to manage risk accordingly.
– Buys on close above 173.570 targeting 1h Resistance at 173.950, Leaving Runners to the 30min Resistance at 174.290.
– Sells on close below 173.020 targeting 1h Support at 172.670, Leaving Runners to the 4h Support formed around 172.310.
– As Wednesday Daily candle closed back within the range it would be ideal to wait for confirmation before taking positions and to manage risk accordingly.