Published: 2025-03-06T07:38:43.000Z
Chart GBP/JPY Update: Extend choppy trade from the February lows
Technical Analyst
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Extending bounce from the 188.10/00 support to retest resistance at the 192.00/193.00 congestion area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 194.75 | ** | 24 Jan high | S1 | 190.00 | * | congestion | |
| R3 | 194.00/20 | * | congestion, 2 Jan low | S2 | 188.10 | * | Dec low | |
| R2 | 193.00/15 | ** | Feb highs | S3 | 187.05 | ** | 7 Feb YTD low | |
| R1 | 192.00 | * | congestion | S4 | 185.00 | * | congestion |
Asterisk denotes strength of level
07:25 GMT - Extending bounce from the 188.10/00 support to retest resistance at the 192.00/193.00 congestion area. Clearance here will extend the broader gains from the February YTD low at 187.05 to retest strong resistance at the 194.00/194.75 area. The latter expected to cap and give way to fresh selling pressure later. Meanwhile, support remains at the 190.00 congestion and see break here to return focus to the downside for retest of 188.10/187.05, December and February YTD low. Below these will extend the broader losses from the 199.80, October high.