Published: 2026-03-04T07:51:35.000Z
Chart GBP/JPY Update: Consolidation, room for lower later
2
Range-bound is consolidation at the 210.00 level following rejection from resistance at the 212.00 level
| 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
07:50 GMT - Range-bound is consolidation at the 210.00 level following rejection from resistance at the 212.00 level. However, pressure remains on the downside as daily studies turned down from overbought areas and see room for pullback to strong support at the 208.00 congestion and 207.20, February current year low. Break of these 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 at the 212.00 congestion is expected to cap.