GBPJPY Technical Analysis 16th May 2025 1h chart

GBPJPY Technical Analysis 16th May 2025 1h chart
– Thursday Daily candle closed Bearish at 193.690 as price slightly range on the 4h timeframe.

– I’ll be looking for potential Buys Above 194.000 targeting hourly Resistance at 194.500 Leaving Runners to the 4h Resistance formed at 194.920.


– I’ll be looking for potential Sells below 193.430 targeting Hourly Support formed at 192.860 Leaving Runners to the Daily Rejection formed at 192.340.


– Weekly candle has flipped bearish, showing strong rejection from the upside. Will this lead to the formation of weekly resistance, or is this just a pullback?