GBPJPY Technical Analysis 13.10.2022 1h chart

– Previous Daily candle closed Bullish at 163.020 forming Daily Support at 159.870, Price also closed above the 4h consolidation zone.
– Buys on close above 163.350 on the break of the previous Daily High targeting 1h Support at 163.790, 163.620 is an area to pay attention to as price has formed Support on 5th October 2022 at London Close and held another Support on the 30min aswell at Pre NY / NY Open, Leaving Runners to the 4h Resistance at 164.310.
– Sells on close below 162.540 targeting 1h Support at 161.970, Leaving Runners to the 30min Support at 161.440.
– As the Wednesday Daily candle formed Support, There is a probability for price to reach the Weekly and Daily Resistance formed at around 165.360.