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GBPJPY Technical Analysis 16th December 2024 1h chart (1 Viewer)

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 GBPJPY Technical Analysis 16th December 2024 1h chart (1 Viewer)

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Previous Weekly candle closed strong Bullish at 193.710 respecting recent Weekly Support formed at the beginning of December. Friday Daily candle closed weak Bullish forming Daily Support at 193.270. I’ll be looking for potential Buys above 194.310 targeting Daily Rejection formed at 194.980 Leaving Runners to the Hourly Rejection formed on 21st November 2024 around 195.530. I’ll be looking for potential Sells below 193.500 targeting Hourly Support at 192.920 Leaving Runners to the 4h Support at 192.440. With reduced volume this month, the market lacks momentum. Patience is key, wait for strong confirmations before entering buy or sell positions. Stay strategic and avoid unnecessary risks!



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