Published: 2025-04-02T07:46:45.000Z
Chart GBP/JPY Update: Consolidating, room for lower later
Technical Analyst
2
No follow-through on break of the 193.00 as prices consolidate losses from the 196.00 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 198.95 | ** | Dec high | S1 | 193.00 | * | congestion | |
| R3 | 197.50 | * | Oct trendline | S2 | 192.00 | ** | 21 Mar low | |
| R2 | 196.00 | ** | congestion | S3 | 190.73 | * | 13 Mar low | |
| R1 | 194.75 | * | 24 Jan high | S4 | 190.00 | * | congestion |
Asterisk denotes strength of level
07:40 GMT - No follow-through on break of the 193.00 as prices consolidate losses from the 196.00 high of last week. Bounce see prices unwinding oversold intraday studies but this is expected to give way to break to support at the 192.00 congestion. Break here will return focus to the downside to the 190.00 congestion then the 188.10/187.05, December low and February YTD low. Meanwhile, resistance is lowered to the 194.75/195.00 area which is expected to cap and sustain losses from the 196.00 high.