Published: 2025-04-11T06:58:47.000Z
Chart GBP/JPY Update: Extend choppy trade within 190.00/186.00 area
Technical Analyst
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Settled back from test of the 190.00 resistance to retest support at 186.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 193.00 | * | congestion | S1 | 186.00 | * | 7 Apr low | |
| R3 | 192.00/20 | ** | congestion, 1 Apr low | S2 | 184.35 | ** | 9 Apr YTD low | |
| R2 | 190.00 | * | congestion | S3 | 183.70 | * | Sep low | |
| R1 | 188.10 | * | Dec low | S4 | 180.10 | ** | Aug low |
Asterisk denotes strength of level
06:50 GMT - Settled back from test of the 190.00 resistance to retest support at 186.00 as prices consolidate sharp bounce from the 184.35 low. Stronger corrective bounce not ruled out and clearing the 190.00 level will see room to resistance at the 192.00/193.00 congestion area. However, gains are seen corrective and expected to give way to fresh selling pressure later. Break of the 186.00 support will expose the 184.35 low to retest and see scope for extension to the 183.70, September low. Below this will turn focus to the 180.10, August low.