GBPJPY Technical Analysis 5th August 2024 1h chart

– Previous Weekly candle closed strong Bearish around 187.550, Friday Daily also closed strong Bearish tapping into previous Monthly Resistance formed in November 2023. I’ll be looking for potential Buys above 188.100 targeting 30min previous Resistance around 188.750 Leaving Runners to the 30min Resistance formed around 189.360. I’ll be looking for potential Sells below 187.320 targeting Weekly Support formed in February this year around 186.500 Leaving Runners to the 4h Support formed on 1st February 2024 around 185.700. Ideally is to allow price to retrace forming the New Weekly top wick before the continuation to the downside.