Published: 2025-05-30T06:51:53.000Z
Chart GBP/JPY Update: Extending pullback from 196.00/40 resistance
Technical Analyst
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Under pressure and break of 194.00 congestion see room for deeper pullback to the 192.00 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.80 | ** | congestion | S1 | 194.00 | * | congestion | |
| R3 | 199.00 | ** | Dec high | S2 | 192.00 | ** | congestion, 22 May low | |
| R2 | 198.00 | * | congestion | S3 | 190.00 | * | congestion | |
| R1 | 196.00/40 | ** | 14 May high, trendline | S4 | 188.00 | * | Dec low |
Asterisk denotes strength of level
06:45 GMT - Under pressure and break of 194.00 congestion see room for deeper pullback to the 192.00 support. Break here will confirm a double top at 196.00/40, May highs, and see deeper pullback to retrace rally from the 184.35, April YTD low. Lower still, will see room to support at 190.00 congestion and 188.00, December low. Meanwhile, resistance at 194.00/194.40 highs are expected to cap. Clearance, but not expected, is needed to open up room for extension to 198.00/199.00 congestion area.