GBPJPY Technical Analysis 01.08.2022 1h chart

– The July candle has closed Bearish forming Resistance at 165.200 respecting both the Highs and Lows of the June candle. However, the Weekly has closed a small Bearish body candle leaving a huge Rejection wick to the upside (300 Pip) and the Friday Daily candle has also closed Bearish at 162.260.
– Buys on a close above 162.620 targeting 4h previous Support formed on (28.07.2022) at 163.130 leaving Runners to 1h previous Support formed on (29.07.2022) at 163.460.
– Sells on close below 162.020 targeting 30min Support / Daily Wick Fill at 161.610 leaving Runners to 15min Support at 161.180.
– Important News event is coming up this week for the Pound Sterling regarding the Interest Rate review by the Bank Of England.