GBPJPY Technical Analysis 16.05.2022 1h chart

– The previous Daily candle closed Bullish forming Support on the Daily timeframe at 156.450, also the previous Weekly candle had a huge pullback retesting the previous Weekly Resistance formed on (18.10.2021) and (10.01.2022).
– Buys on a close above 158.500 targeting 1h Resistance at 158.770 leaving Runners to 1h/30min Strong Resistance at 159.170.
– Sells on close below 158.050 targeting 1h previous Resistance at 157.710 leaving Runners to 4h Support at 157.200.
– Ideally is to allow the Asian session to form some recent Price Action to then have higher probability trade with strong confirmation.