GBPJPY Technical Analysis 20.05.2022 1h chart

– Previous Daily candle closed Bullish forming Support at 158.200 holding 4h Support at 157.900, Buys on close above 159.770 targeting 1h Strong Resistance at 160.330 leaving Runners to 15min Resistance at 160.780.
– Sells on close below 159.210 targeting 15min Support at 159.940 leaving Runners to Daily Support at 158.210.
– GBP Retail Sales m/m data to be released at Pre London from Office For National Statistics (ONS) forecasting -0.3%  (Previous: -1.3%), 30min after London Open we have FOMC Member Pill due to speak about the economy and Monetary Policy at an event hosted by the Association of Chartered Certified Accountants in Wales. As of Thursday the current Weekly candle is still holding Support above 158.200 and respecting the previous Weekly Resistance formed on (18.10.2021) and (10.01.2022).