Published: 2025-06-24T07:16:32.000Z
Chart GBP/JPY Update: Consolidating test of 198.00
Technical Analyst
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Break above the 196.00/80 congestion has seen extension to reach resistance at the 198.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 200.70 | 23 Jul 2024 low | S1 | 196.00 | * | congestion | ||
| R3 | 199.80 | ** | Oct high | S2 | 194.00 | ** | congestion | |
| R2 | 199.00 | ** | Dec high | S3 | 192.70 | * | 3 Jun low | |
| R1 | 198.00 | * | congestion | S4 | 192.00 | ** | congestion, 22 May low |
Asterisk denotes strength of level
07:10 GMT - Break above the 196.00/80 congestion has seen extension to reach resistance at the 198.00 level. Positive daily studies suggest scope for break here to open up room for extension to retest the 199.00 and 199.80, December and October highs. Overbought weekly studies suggest reaction at the latter can be expected. Meanwhile, support is raised to the 196.80/196.00 area which is expected to underpin. Would take break here to open up room for deeper pullback to correct choppy gains from the 192.00 level.