Published: 2025-05-08T06:58:38.000Z
Chart GBP/JPY Update: Extending bounce above 190.00 support
Technical Analyst
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Consoidation above the 190.00 support has given way to rebound
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 196.00 | ** | congestion | S1 | 190.00 | * | congestion | |
| R3 | 195.00 | * | upper channel | S2 | 188.00 | * | congestion | |
| R2 | 193.74 | ** | 2 May high | S3 | 187.00 | ** | Feb low, congestion | |
| R1 | 192.00 | congestion | S4 | 184.35 | ** | 9 Apr YTD low |
Asterisk denotes strength of level
06:50 GMT - Consoidation above the 190.00 support has given way to rebound and break above the 191.70 resistance and 192.00 figure will return focus to the upside for retest of the 193.74 high. Clearance will further extend gains from the April YTD low at 184.35 and see room to the strong resistance at the 195.00/196.00, upper channel and March high. Meanwhile, support at 190.00 congestion underpin. Would take break here to return focus to the downside and see scope to strong support at the 188.00/187.00 congestion.