Published: 2025-04-03T07:25:16.000Z
Chart GBP/JPY Update: Pressure building on the downside
Technical Analyst
1
Choppy trade see pressure building on the downside as resistance at the 196.00 congestion caps
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 198.95 | ** | Dec high | S1 | 192.00 | ** | 21 Mar low | |
| R3 | 197.50 | * | Oct trendline | S2 | 190.73 | * | 13 Mar low | |
| R2 | 196.00 | ** | congestion | S3 | 190.00 | * | congestion | |
| R1 | 194.75 | * | 24 Jan high | S4 | 188.78 | * | 11 Mar low |
Asterisk denotes strength of level
07:20 GMT - Choppy trade see pressure building on the downside as resistance at the 196.00 congestion caps. Negative daily studies weighs and threatens break of the 192.00 support. Break here will return focus to the downside and see room to the 190.00 congestion and 188.78 support. Below these will shift focus to 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.