Published: 2025-05-15T06:44:59.000Z
Chart GBP/JPY Update: Weighing on 194.00/193.75 support
Technical Analyst
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Extending rejection from the 196.40 high to pressure support at the 194.00/193.75 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 198.95/00 | ** | Dec high, congestion | S1 | 193.75 | * | 2 May high | |
| R3 | 198.00 | * | congestion | S2 | 193.00 | * | congestion | |
| R2 | 196.40 | * | 14 May high | S3 | 191.70 | * | 25 Apr high | |
| R1 | 195.00 | * | congestion | S4 | 190.00 | ** | congestion |
Asterisk denotes strength of level
06:40 GMT - Extending rejection from the 196.40 high to pressure support at the 194.00/193.75 area. Daily studies have turned lower as prices unwind overbought readings and suggest scope for break here to see deeper retracement of gains from the 184.35, April YTD low. Lower will see extension to the 193.00 level and 192.00/191.70 area. Meanwhile, resistance is lowered to 195.00 congestion ahead of the 196.40 high. Clearance here, if seen, will see further extension to target the January/December highs at 198.25/199.00.