Chart GBP/JPY Update: Leaning lower in choppy trade
Leaning lower in choppy trade after bounce attempt was capped below resistance at the 190.00 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 194.10 | * | 3 Apr high | S1 | 187.05 | * | Feb low | |
| R3 | 193.00 | * | congestion | S2 | 186.00 | * | 7 Apr low, congestion | |
| R2 | 192.00/20 | ** | congestion, 1 Apr low | S3 | 184.35 | ** | 9 Apr YTD low | |
| R1 | 190.00 | * | congestion | S4 | 183.70 | * | Sep low |
Asterisk denotes strength of level
07:00 GMT - Leaning lower in choppy trade after bounce attempt was capped below resistance at the 190.00 congestion. Break here will extend bounce from the 184.35 low to retrace losses from the March high at 196.00 to resistance at the 192.00/193.00 congestion area. Gains are seen corrective and expected to give way to fresh selling pressure later. Meanwhile, support is raised to the February low at 187.05 and break here will see room for pullback to 186.00 support. Below here will expose the 184.35 low to retest and see scope for extension to the 183.70, September low. Lower still, will turn focus to the 180.10, August low.