Published: 2024-12-18T08:06:56.000Z
Chart GBP/JPY Update: Consolidating test of 196.00 resistance
Technical Analyst
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No follow-through on break of the 195.35 resistance with gains coming under selling pressure below the 196.00 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.80 | ** | 30 Oct high | S1 | 193.50 | * | Sep high, congestion | |
| R3 | 199.55 | * | 7 Nov high | S2 | 192.50/00 | * | congestion | |
| R2 | 197.75/00 | * | 20 Nov high, congestion | S3 | 190.00 | * | congestion | |
| R1 | 196.00 | * | congestion | S4 | 188.07/00 | ** | 3 Dec low, congestion |
Asterisk denotes strength of level
08:00 GMT - No follow-through on break of the 195.35 resistance with gains coming under selling pressure below the 196.00 resistance. Rejection there see room to the 193.50 support. Would take break here to turn focus to the downside to retrace strong gains from the 188.07/00 low and congestive support. Lower will see room to the 192.00 and 190.00 support area. Meanwhile, resistance at the 195.35/196.00 congestion area now expected to cap. Break, if seen, will see room for stronger gains to the 197.75/198.00 area.