GBPJPY Technical Analysis 08.12.2022 1h chart

– Previous Daily candle closed Bullish at 166.740 closing below recent Daily Resistance as the Daily timeframe currently consolidating.
Buys on close above 167.000 targeting 1h Resistance at 167.350, Leaving Runners to the 4h previous Support formed on 24th November 2022 at 167.580.
– Sells on close below 166.280 targeting 30min Support at 166.000, Leaving Runners to the 30min Strong Support formed at 165.740.
– Overall Daily timeframe is in consolidation, So ideally is to wait for confirmation before taking a trade and to secure where possible as price could break above or below then fakeout and go back in the Range.