GBPJPY Technical Analysis 12.09.2022 1h chart

– Previous Daily candle closed Bearish at 165.140 forming Daily Resistance at 165.740 however, the previous Weekly candle closed Strong Bullish forming Weekly Support at 160.750 breaking Weekly Resistance formed on (08.08.2022) and ( 18.07.2022), also breaking and closing above the Monthly Resistance formed in July 2022.
– Buys on a close above 165.650 as price breaks the 1h Resistance formed on Friday Pre London targeting 4h Resistance at 165.990 leaving Runners to 1h Resistance at 166.240.
– Sells on close below 164.960 as price breaks the 1h Support formed on Friday London Close targeting 1h Support at 165.540 leaving Runners to 1h Strong Support at 164.210.
– High Impact News for GDP UK m/m to be released 1h before London Open forecasting: 0.3% / Previous -0.6% followed by few Low Impact News for Construction Output m/m, Goods Trade Balance, Index Of Services 3m/3m, Industrial Production m/m and Manufacturing Production m/m.