GBPJPY Technical Analysis 21.03.2023 1h chart

– Previous Daily candle closed Bullish at 161.180 back within recent Daily range forming new Daily Support at 160.720.
– Buys on close above 161.730 targeting 1h previous Support formed on 14th March 2023 at 162.340, Leaving Runners to the Daily Resistance formed on 15th March 2023 at 163.070.
– Sells on close below 160.750 targeting 1h Support at 160.280, Leaving Runners to the 4h Support formed at 159.840.
– Price could possibly range within the recent Daily Consolidation Zone prior to Bank Rate review from Bank Of England Thursday this week.