GBPJPY Technical Analysis 12th May 2025 1h chart

GBPJPY Technical Analysis 12th May 2025 1h chart
– Previous Weekly candle closed Bullish at 193.420 below recent Weekly Resistance as price failed to fill the Weekly candle from last week of April 2025. Friday Daily candle closed Doji Bullish failing to break above.

– I’ll be looking for potential Buys above 193.710 targeting previous 15min Support formed on 2nd April 2025 around 194.500 Leaving Runners to the 4h Resistance formed on 28th March 2025 around 195.010.


– I’ll be looking for potential Sells below 193.160 targeting 4h Support at 192.580 Leaving Runners to the Hourly Support formed at 192.000.


– The current monthly candle remains bullish, now trading above previous monthly resistance. Is this the start of a breakout continuation, or will price reject and fall back within range?