Published: 2025-03-05T07:45:28.000Z
Chart GBP/JPY Update: Extend choppy trade from 187.05 low
Technical Analyst
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Consolidation at the 188.10/00 support has given way to rebound as prices unwind the oversold daily studies
| 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
07:40 GMT - Consolidation at the 188.10/00 support has given way to rebound as prices unwind the oversold daily studies and extend choppy trade from 187.05, February YTD low. Prices has reached resistance at the 192.00 congestion and clearance here will see scope for retest of the 193.00/15, February highs. Break here, if seen, will open strong resistance at the 194.20/194.75 area to retest. Gains are seen corrective and lower high sought for pullback to the 190.00 congestion. Below this will return focus to the downside for retest of 188.10 and 187.05 lows.