GBPJPY Technical Analysis 05.12.2022 1h chart

– Previous Daily candle closed Bearish at 165.040 respecting Daily Resistance that was formed on 1st December at 166.480 and breaking recent Daily Support that was formed on 30th November at 165.760.
– Buys on close above 165.420 targeting 1h Strong Resistance at 165.780, Leaving Runners to the 15min Resistance formed at 166.090.
– Sells on close below 164.860 targeting 4h Support at 164.440, Leaving Runners to the Weekly / Daily Support formed on 14th November 2022.
– Despite the Rejection wick on the Friday Daily candle, there is a higher probability for the price to Fill the Daily bottom wick retesting Weekly / Daily Support.