GBPJPY Technical Analysis 20.09.2022 1h chart

– Previous Daily candle closed Bullish at 163.660 forming Daily Support at 163.020, Despite the price consolidating over the Asian Session (Market Open), London Session and Pre NY. We still had some volume after New York Stock Exchange Open but the price action wasn’t clean.
– Buys on a close above 164.030 targeting 1h Resistance at 164.400 leaving Runners to the 4h previous Support formed on (09.09.2022) at 164.780.
– Sells on a close below 163.430 targeting 4h Strong Support formed at 163.060 leaving Runners to Daily previous Resistance formed on (10.08.2022) at 162.640.
– As Official Bank Rate coming up this Thursday for the Pound Sterling there is a possibility for the price to consolidate as seen on the 4h timeframe, waiting for a good confirmation would be ideal to have a higher probability of winning a trade.