GBPJPY Technical Analysis 09.02.2023 1h chart

– Previous Daily candle closed Bullish at 158.500 forming Daily Support at 157.830 as price tapped into the 4h previous Support formed on Monday 6th February 2023.
– Buys on close above 158.830 targeting 1h previous Support at 159.240, Leaving Runners to the 1h strong Resistance at 159.530.
– Sells on close below 158.380 targeting 4h Support at 158.000, Leaving Runners to the next 4h Support formed at 157.750.
– As Daily formed Support on Wednesday and respected the previous Daily Support formed on Friday 3rd February, there is a higher probability for price to retest the  Daily Resistance formed on Tuesday at 159.320.