Published: 2025-06-27T07:48:02.000Z
Chart GBP/JPY Update: Focus on 199.00/199.80, December/October sighs
Technical Analyst
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Pressure remains on the upside and break above the 198.00 level see room to target the 199.00, December high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 202.00 | * | congestion | S1 | 197.00 | * | congestion | |
| R3 | 200.70 | * | 23 Jul 2024 low | S2 | 196.40/00 | * | May high, congestion | |
| R2 | 199.80 | ** | Oct high | S3 | 194.00 | ** | congestion | |
| R1 | 199.00 | ** | Dec high | S4 | 192.70 | * | 3 Jun low |
Asterisk denotes strength of level
07:40 GMT - Pressure remains on the upside and break above the 198.00 level see room to target the 199.00, December high. Both the daily and weekly studies are still tracking higher and suggest room for break here to expose the October high at 199.80. Would expect reaction at the latter to unwind the overbought daily studies. Meanwhile, support is raised to the 197.00 congestion which is expected to underpin. Would take break here to open up room for deeper pullback to the 196.40/196.00 area.