Published: 2025-05-22T07:41:37.000Z
Chart GBP/JPY Update: Extending losses from 196.40 high
Technical Analyst
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Prices remain under pressure to extend rejection from the 196.40 high to reach support at the 192.00/191.70 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 198.95/00 | ** | Dec high, congestion | S1 | 192.00 | * | congestion | |
| R3 | 198.00 | * | congestion | S2 | 190.00 | ** | congestion | |
| R2 | 196.00/40 | ** | congestion, 14 May high | S3 | 188.00 | * | Dec low | |
| R1 | 194.00 | * | congestion | S4 | 187.00 | * | Feb low |
Asterisk denotes strength of level
07:35 GMT - Prices remain under pressure to extend rejection from the 196.40 high to reach support at the 192.00/191.70 area. Daily studies remains negative and suggest consolidation here giving way to break later and see deeper retracement of the April/May rally. Lower will see room to support at 190.00 congestion. Break here will see scope to the 188.00/189.00, December/February lows. Meanwhile, resistance is lowered to 194.00 congestion which is expected to cap and sustain losses from the 196.40 high.