Published: 2026-03-05T06:57:02.000Z
Chart GBP/JPY Update: Under pressure
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Under pressure, as prices extend rejection from the 212.10 high of last week
| 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 | 207.25 | ** | 17 Feb YTD low | |
| R1 | 212.00/10 | ** | congestion, 25 Feb high | S4 | 206.00 | * | congestion |
Asterisk denotes strength of level
06:50 GMT - Under pressure, as prices extend rejection from the 212.10 high of last week to retrace gains from the 207.25, February current year low. Daily studies are unwinding overbought readings and break of the 209.00/208.00 congestion area will expose the 207.25 low to retest. Below the latter 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 212.00/10 congestion is expected to cap. Regaining this will revive the upside focus and return focus to the 215.00 high.