Published: 2026-03-03T08:06:16.000Z
Chart GBP/JPY Update: Consolidation, room for lower later
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Consolidating at the 210.00 level but pressure pressure remains following rejection from the 212.00 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 215.00 | ** | 4 Feb YTD high | S1 | 209.00 | * | congestion | |
| R3 | 214.00 | * | congestion | S2 | 208.00 | * | congestion | |
| R2 | 213.00 | * | congestion | S3 | 207.20 | ** | 17 Feb YTD low | |
| R1 | 212.00 | ** | congestion, 25 Feb high | S4 | 206.00 | * | congestion |
Asterisk denotes strength of level
08:00 GMT - Consolidating at the 210.00 level but pressure pressure remains on the downside following pullback from resistance at the 212.00 level. Daily studies are unwinding overbought readings and see room for pullback to strong support at the 208.00 congestion and 207.20, February current year low. Break of the latter will open up room for deeper pullback to retrace the April/February rally and see extension to the 206.00/205.00 congestion. Meanwhile, resistance is lowered to 212.00 congestion which is expected to cap.