GBPJPY Technical Analysis 07.02.2023 1h chart

– Previous Daily candle closed Bullish at 159.420 closing small body candle but price has gapped up 130 pips at Market Open.
– Buys on close above 159.900 targeting 4h Resistance at 160.450, Leaving Runners to the next 4h Resistance at 160.720.
– Sells on close below 159.300 targeting 30min Support which is also the 1h previous Resistance at 159.030 formed on Friday 3rd February at Pre London, Leaving Runners to the 4h / 1h Strong Support formed at 158.790.
– The targets for Buys will allow the current Weekly candle to retest the Weekly Resistance formed last week to then potentially retest the recent Daily Support formed on Friday 3rd February 2023.