Published: 2025-02-18T07:49:40.000Z
Chart GBP/JPY Update: Corrective pullback from 193.04 high
Technical Analyst
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Edged lower from the 193.04 high to consolidate strong bounce from the 187.05 February year low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 194.74 | ** | 24 Jan high | S1 | 190.00 | ** | congestion | |
| R3 | 193.50 | * | 2 Sep high, congestion | S2 | 189.32 | * | Jan low | |
| R2 | 193.04 | ** | 13 Feb high | S3 | 188.07 | * | Dec low | |
| R1 | 192.00 | * | congestion | S4 | 187.05 | ** | 7 Feb YTD low |
Asterisk denotes strength of level
07:45 GMT - Edged lower from the 193.04 high to consolidate strong bounce from the 187.05 February year low and unwind overbought intraday studies. Break of the 191.00 level see room for deeper pullback to support at the 190.00 congestion and 189.32 low of January. The latter expected to underpin and only breal here will return focus to the downside for retest of the 188.07 and 187.05 lows. Meanwhile, resistance is lowered to the 192.00 congestion where clearance will open up the 193.04 high to retest and see room for strong bounce to the 193.50 resistance.