GBPJPY Technical Analysis 15.03.2023 1h chart

– Previous Daily candle closed Bullish at 163.100 forming new Daily Support at 162.180.
– Buys on close above 163.520 targeting 4h / 1h Resistance formed at 163.940, Leaving Runners to the 4h Resistance formed at 164.260.
– Sells on close below 162.840 targeting 1h Support at 162.300, Leaving Runners to the next 1h Support formed at 161.870.
– Annual Budget Release for the UK economy during the London / New York session.
– What is an Annual Budget Release?
– The UK government releases an annual budget statement that outlines its fiscal plans for the upcoming year. The budget statement typically includes projections for government revenue, spending, and borrowing, as well as policy measures related to taxation, public spending, and other economic matters.The budget statement is usually presented to the House of Commons by the Chancellor of the Exchequer, who is the UK government’s chief financial officer. The statement is typically accompanied by detailed documentation, including tables and charts that provide additional context and information about the government’s fiscal plans .The annual budget statement is an important event in the UK political calendar, and it is closely scrutinized by economists, analysts, and the media. It provides insight into the government’s economic priorities and can have a significant impact on financial markets, business decisions, and public opinion.