GBPJPY Technical Analysis 07.12.2022 1h chart

– Previous Daily candle closed Bearish at 166.240 forming Daily Resistance at 166.800.
– Buys on close above 166.700 targeting 4h Resistance at 167.010, Leaving Runners to the 30min Resistance at 167.510.
– Sells on close below 166.050 targeting 30min Support at 165.740, Leaving Runners to the 1h Support at 165.450.
– As the previous Daily candle close Bearish forming Resistance, There is a higher probability for price to retest recent Daily Support at 165.030.