Published: 2025-06-03T07:06:52.000Z
Chart GBP/JPY Update: Extending pullback from 196.00/40 resistance
Technical Analyst
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Weighing on the 193.00 level following rejection from resistance at the 196.00/40 area last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.00 | ** | Dec high | S1 | 192.00 | ** | congestion, 22 May low | |
| R3 | 198.00 | * | congestion | S2 | 190.00 | * | congestion | |
| R2 | 196.00/40 | ** | 14 May high, trendline | S3 | 188.00 | * | Dec low | |
| R1 | 194.00 | * | congestion | S4 | 187.04 | * | Feb low |
Asterisk denotes strength of level
07:00 GMT - Weighing on the 193.00 level following rejection from resistance at the 196.00/40 area last week. Lower will see room for deeper pullback to the 192.00 support. Break here will confirm a double top at the May highs and see deeper pullback to retrace rally from the 184.35, April YTD low. Lower will see room to support at 190.00 congestion and 188.00, December low. Meanwhile, resistance at 194.00 is expected to cap. Clearance, but not expected, will ease the downside pressure and open up room retest of the 196.00/40 resistance.