GBPJPY Weekly Analysis 1/5/2023 to 5/5/2023

The price currently retesting a major high at 172.071 from 2022 & showing signs of price rejection finding resistance at that high while the price also formed a support at 171.051 on shorter TF.

So if price closes below the support on shorter tf then it might continue pushing down as a pullback to retest the next support or uptrendline at 169.229.
But if price closes above the recent high then it might continue its bullish run towards the next key level at 174.939.