GBPJPY Technical Analysis 10.08.2022 1h chart

– Previous Daily candle closed Weak Bullish at 163.150 as the overall price action has been Ranging.
– Buys on close above 163.300 targeting 1h Resistance at 163.550 leaving Runners to 4h Resistance at 163.750.
– Sells on close below 163.000 targeting 1h Support at 162.680 leaving Runners to the Weekly Support at 162.270.
– When the price is Ranging on Daily, 4h and 1h its much safer to look for small targets to secure Profits and avoid getting stopped out as that could lead to overtrading and that applies either for Buys or Sells until a higher timeframe has strong confirmation by forming Support or Resistance and having volume coming into the market.