GBPJPY Technical Analysis 5th December 2024 1h chart

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 GBPJPY Technical Analysis 5th December 2024 1h chart

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Wednesday Daily candle closed Bullish at 191.170 forming Daily Support at 189.180. I’ll be looking for potential Buys above 191.520 targeting Daily Resistance formed at 192.220 Leaving Runners to the previous 4h Support formed on 26th November 2024 around 192.870. I’ll be looking for potential Sells below 190.760 targeting Hourly Rejection formed at 190.060 Leaving Runners to the Hourly Support formed at 189.640. The weekly candle has officially flipped bullish! It’s showing a strong rejection of the key 188 level while firmly respecting the recent weekly support zone.

 

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