GBPJPY Technical Analysis 04.01.2022 1h chart

Previous Daily candle have formed Resistance as price tapped Monthly Resistance at 156.000 from the last Monthly candle of 2021, Resistance forming on HTF is expected as GJ has been Strong Bullish within the last 3 Weekly candles after tapping and holding Major Support at 149 from the Beginning of December 2021, so the Daily Resistance could be the current Monthly forming Bottom Wick before flipping Bullish.

For the overall Bullish Bias on GBPJPY price needs to hold Daily Support at 154.200.

Sells are more likely to play out than Buys due to price trading within Strong Monthly Resistance at 156.000 despite the overall market structure been extremely Bullish.
As the new year just began its better to wait for the market to set up and not rush trade, also Manage Risk accordingly.