– Buys on close above 165.560 on the break of the previous Daily candle high targeting 4h Resistance at 166.110, Leaving Runners to the 4h previous Strong Support formed on 13th September 2022 at 166.470.
– Sells on close below 164.960 as price breaks below 15min Support targeting 1h Support formed at 164.460, Leaving Runners to the next 1h Support at 164.050.
– Overall the current Price Action has been extremely Bullish since 28th September 2022, So we have to pay attention to the higher timeframe as price approach a very strong Weekly /Monthly Resistance, There is a probability for GBPJPY forming Resistance on the Daily. The past 8 Daily candles have closed Bullish which also increase the Probability of price forming Resistance / Retracement.