GBPJPY Technical Analysis 16.03.2023 1h chart

– Previous Daily candle closed Bearish at 160.770 forming new Daily Resistance at 163.100.
– Buys on close above 161.360 targeting 4h previous Support formed at 161.910, Leaving Runners to the 15min previous Support formed at 162.470.
– Sells on close below 160.580 targeting 15min Support at 160.060, Leaving Runners to the 4h Support formed at 159.400.
– As previous Daily candle closed Bearish, there is a higher probability for price to fill the previous Daily Low.