💹 GBPJPY Daily Analysis Based on Main Key Levels - 8 April 2025

Daily Current Market Price (DCMP): 🌐 187.502

Price trades ABOVE immediate support (185.852) but BELOW key resistance (187.799)

🚨 Critical Price Zones

Resistance (Sell Areas):

🔥 187.799 (Intraday supply cluster)

🔥 189.640 (Descending trendline confluence)

🔥 192.093 (Multi-week ceiling)

Support (Buy Areas):

🛡️ 185.852 (Liquidity-rich baseline)

🛡️ 184.157 (Structural swing low)

🛡️ 182.702 (Long-term demand zone)

🔥 Technical Snapshot

Swing Levels:

Daily High: 193.060 | Daily Low: 188.800

4H High: 190.577 | 4H Low: 188.125

Fibonacci:

61.8% Retracement at 189.20 | 127% Extension at 191.80

Momentum:

RSI at 51 (neutral) | MACD lines converging below signal line

Price Action:

Ascending wedge pattern forming with bearish volume divergence

💡 Intraday Trade Setups

📈 Intraday Buy (Long)

🎯 Entry: 🟢 185.852 (Demand confluence)

🔴 Stop Loss: 🛑 184.157 (Lower timeframe swing low)

✅ Take Profit 1: 💰 187.502 (DCMP retest)

✅ Take Profit 2: 💰 188.125 (4H pivot)

Rationale: Bullish reversal pattern at 78.6% Fib support with hidden RSI divergence.

📉 Intraday Sell (Short)

🎯 Entry: 🔴 187.799 (Supply zone)

🔴 Stop Loss: 🛑 189.640 (Upper swing high)

✅ Take Profit 1: 💰 186.609 (Daily support)

✅ Take Profit 2: 💰 185.852 (Key demand cluster)

Rationale: Bearish rejection at descending channel resistance with MACD histogram contraction.

⚡ Key Observations

DCMP 187.502 aligns with 20EMA (187.30) – critical equilibrium zone.

Volume profile shows trapped sellers above 187.799.

Bullish divergence forming on 1H Stochastic oscillator.

Risk Alert: Monitor UK employment data at 08:30 GMT – Stronger-than-expected figures could trigger 150-pip rally toward 189.640.