GBPJPY Technical Analysis 12.06.2023 1h chart

– Previous Weekly candle closed Bullish at 175.240 respecting the previous Weekly Low, Friday Daily candle also closed Strong Bullish breaking out of the Daily consolidation zone formed during the week.
– Buys on close above 175.540 targeting previous Daily Support formed on 13th April 2015 at 175.900, Leaving Runners to the Monthly previous Support formed in February 2015 at 176.450.
– Sells on close below 175.010 targeting 1h Support formed at 174.710, Leaving Runners to the 4h previous Resistance formed on Thursday 8th June 2023 at 174.360.
– The higher timeframe Bullish momentum continues strong, Most recent Monthly Support was formed in January this year.