GBPJPY Technical Analysis 03.02.2023 1h chart

– Previous Daily candle closed strong Bearish at 157.230 as Bank Of England raise Interest Rate to 4.00% from 3.50% as Inflation remains high.
– Buys on close above 157.590 targeting 30min Strong Resistance formed at 157.990, Leaving Runners to the 1h previous Support formed on Thursday 19th January 2023 at 158.530.
– Sells on close below 156.950 targeting 4 Strong Support formed at 156.580, Leaving Runners to the Weekly Support formed at 156.170.
– Currently Weekly candle broke the previous weak Weekly candle Low mirroring clean traffic on the left on Weekly and Daily timeframe.