GBPJPY Technical Analysis 04.07.2022 1h chart

– Previous Weekly candle closed strong Bearish at 163.550 forming Resistance at 165.900, also the Friday Daily candle closed strong Bearish as the price tapped Into the previous Daily Resistance at 161.500 formed on (18.05.2022) then did almost 200 pip Retracement on the Daily.
– Buys on a close above 164.000 targeting 15min Resistance at 164.350 leaving Runners to 4h previous Support formed on (17.06.2022) at 164.710.
– Sells on close below 163.450 targeting 30min Support at 162.940 leaving Runners to  4h previous Support formed on (17.06.2022) at 162.420.
– Despite the long rejection wick to the downside that was formed on Friday, Sells could still play out well to fill the bottom wick of the previous Daily candle and to also retest the broken Daily Resistance around 161.500.