GBPJPY Technical Analysis 20th January 2025 1h chart (1 Viewer)

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 GBPJPY Technical Analysis 20th January 2025 1h chart (1 Viewer)

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- Previous Weekly candle closed Bearish at 190.070 within recent Weekly Support, Friday Daily candle closed weak Bullish forming Daily Support as price consolidated on the 4h timeframe.

- I'll be looking for potential Buys above 190.440 targeting Hourly Resistance at 190.910 Leaving Runners to the 4h Resistance formed at 191.400.

- I'll be looking for potential Sells below 189.640 targeting Daily Support formed on 2nd December 2024 around 189.190.

- The first weekly candle closed just below a major support zone established in September and December 2024. Will the price continue its bearish momentum, or could we see a strong bounce as the support holds? Keep an eye on key levels and watch for confirmation on the next weekly close!




 

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