Published: 2025-04-07T07:33:35.000Z
Chart GBP/JPY Update: Consolidating test of 186.00, lower channel
Technical Analyst
-
Break of the 188.00 level has seen extension to reach the lower from the October high at 186.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 192.00/20 | ** | congestion, 1 Apr low | S1 | 186.00 | * | lower channel | |
| R3 | 191.00 | * | intraday congestion | S2 | 185.00 | * | congestion | |
| R2 | 190.00 | * | congestion | S3 | 183.70 | ** | Sep 2024 low | |
| R1 | 188.00/78 | * | congestion, 11 Mar low | S4 | 180.10 | ** | Aug 2024 low |
Asterisk denotes strength of level
08:30 GMT - Break of the 188.00 level has seen extension to reach the lower from the October high at 186.00 level. Bounce here see prices consolidating sharp losses last week from the 196.00 resistance. Bounce see resistance starting at the 188.00/78 area. Above here will open up room for stronger bounce to the 190.0/192.00 resistance. Correcting bounce expected to give way to selling pressure later. Losses through the 186.00 support will shift focus to the 183.70 and 180.10, September and August lows.