GBPJPY Technical Analysis 21.12.2022 1h chart

– Previous Daily candle closed Strong Bearish at 160.470 after a huge drop from 166.270 as the Bank Of Japan made a surprise decision to let the 10-year Japanese government bond rise as high as 0.5% from a previous cap of 0.25%.
– Buys on close above 161.220 targeting 1h Resistance at 161.900, Leaving Runners to the 1h previous Support formed on 13th October 2022 at 162.460.
– Sells on close below 160.130 targeting 15min Support at 159.650, Leaving Runners to the 1h Support at 159.160.
– After the huge drop on GBPJPY price could possibly correct some of the bear move to the recent level of Resistances shown on the chart above, It’s extremely important to wait for confirmation to take the counter trend for Buys.