Published: 2025-03-21T07:16:14.000Z
Chart GBP/JPY Update: Consolidating, room for deeper pullback
Technical Analyst
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Turned up from test of the 192.00 level as prices consolidate losses from the 194.75 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 197.20 | * | Oct trendline | S1 | 192.00 | * | congestion | |
| R3 | 196.00 | * | congestion | S2 | 190.73 | * | 13 Mar low | |
| R2 | 194.75 | ** | 24 Jan high | S3 | 190.00 | * | congestion | |
| R1 | 193.00 | * | congestion | S4 | 189.00 | * | congestion |
Asterisk denotes strength of level
07:10 GMT - Turned up from test of the 192.00 level as prices consolidate losses from the 194.75 resistance. However, daily studies are now unwinding overbought readings and suggest this giving way to fresh selling pressure later. Lower will see room to the 190.73/190.00 support then 189.00 congestion. Below these will return focus to the 188.10 and 187.05, December and February lows. Meanwhile, resistance is lowered to the 193.00 congestion and this should cap and sustain losses from the 194.75 high.