GBPJPY Technical Analysis 29th April 2024 1h chart
– Previous Weekly candle closed extremely Bullish at 197.820 as price tapped into 198 level for the first time in 16 years. Friday Daily candle also closed strong Bullish. I’ll be looking for potential Buys above 198.020 targeting previous Weekly Support formed on 13th April 2008 around 198.800, Leaving Runners to 199.700 to potential retest the Monthly Rejection wick (Bottom) formed in April 2008. I’ll be looking for potential Sells below 197.400 targeting 1h previous Rejection formed around 196.620 and the recent 1h Support formed around 195.980. Despite the previous Weekly and Daily candle showing a good sign of strong Volume for the continuation to the upside it will be important to allow the Asian session to form a new Range for the week ahead.
