GBPJPY Technical Analysis 16.01.2023 1h chart

– Previous Weekly candle closed Bearish at 156.300 breaking the recent weak Weekly Support formed at 158.410 and forming new Weekly Resistance at 159.640. Friday Daily candle also closed below Daily Support formed on 4th January 2023 at 156.720.
– Buys on close above 156.460 targeting 1h previous Support formed at 156.790, Leaving Runners to the 1h Resistance formed at 157.160.
– Sells on close below 155.750 targeting 4h Support formed at 155.470, Leaving Runners to the Weekly Support formed at 155.100.
– During the New York session Bank Of England Governor Andrew Bailey due to testify on the December Financial Stability Report before the Treasury Select Committee, in London.