GBPJPY Technical Analysis 6th January 2025 1h chart

GBPJPY Technical Analysis 6th January 2025 1h chart
– Monthly candle for December closed Bullish at 196.560 just above November 2024 Resistance. Previous Weekly candle closed strong Bearish around 195.200 forming Weekly Resistance at 198.360 and Friday Daily candle closed weak Bullish due to less volatility.

I’ll be looking for potential Buys above 195.510 targeting previous 4h Support formed on 31st December 2024 around 198.070 Leaving Runners to the next previous 4h Support formed on 31st December 2024 around 196.540.

I’ll be looking for potential Sells below 194.470 targeting 4h Support formed on 15th December 2024 around 193.700 Leaving Runners to the Hourly Support formed on 13th December 2024 around 192.920.

As we step into the new year 2025, market volume is slowly building up again, paving the way for plenty of trading opportunities ahead. Stay focused and ready for what’s to come!