GBPJPY 17th March 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP): 192.228

📊 Critical Price Zones

Above DCMP (Resistance):

🔴 R1: 193.047 | 🎯 R2: 194.065 | 🚨 R3: 195.713

Below DCMP (Support):

🟢 S1: 191.590 | 🎯 S2: 190.719 | 🚨 S3: 189.751

Swing Levels:

🚩 Swing High: 193.060 (Daily/4H) | 🚩 Swing Low: 187.682 (Daily/4H)

📉 Technical Landscape

Price Action Context:

GBPJPY hovers near 192.228, constrained between resistance at 193.047 and support at 191.590.

Fib Retracement: The 61.8% retracement level from Swing Low (187.682) aligns with 191.476, while the 38.2% extension at 193.121 marks resistance.

Momentum Signals:

RSI: Neutral at 52, with bearish divergence on 4H charts.

MACD: Flatlined near the signal line, indicating consolidation.

💡 Intraday Trade Setups

Trade Idea 1: Intraday Buy

📍 Entry: 191.476 (Key Support & Fib 61.8% confluence)

🛑 Stop Loss: 189.751 (Below S3)

🎯 TP1: 192.228 (DCMP) | 🚀 TP2: 193.047 (R1)

Rationale: Strong demand zone at 191.476 with bullish hammer patterns on 4H charts.

Trade Idea 2: Intraday Sell

📍 Entry: 193.121 (Resistance & Fib 38.2% zone)

🛑 Stop Loss: 194.065 (Above R2)

🎯 TP1: 191.590 (S1) | 🚀 TP2: 190.719 (S2)

Rationale: Overbought conditions near 193.121 amid descending volume profile.

🔑 Strategic Outlook

GBPJPY faces a decisive battle between 191.476–193.121. A sustained break above 193.121 could target 194.065, while failure to hold 191.476 may trigger a drop toward 189.751. Monitor 4H closes for directional confirmation.