Published: 2025-03-19T07:41:28.000Z
Chart GBP/JPY Update: Settling back from 194.75 resistance
Technical Analyst
-
Settling back from retest of 24 January high at 194.75 as prices unwind overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 198.00 | * | congestion | S1 | 193.15/00 | * | Feb highs | |
| R3 | 197.30 | * | Oct trendline | S2 | 192.00 | * | congestion | |
| R2 | 196.00 | * | congestion | S3 | 190.73 | * | 13 Mar low | |
| R1 | 194.75 | ** | 24 Jan high | S4 | 190.00 | * | congestion |
Asterisk denotes strength of level
07:40 GMT - Settling back from retest of 24 January high at 194.75 as prices unwind overbought intraday studies. A later clearance, if seen, will open up room for further extension to the 196.00/20 area. However, gains are seen corrective and expected to give way to fresh selling pressure later with support starting at the 193.15/00 area and extending to 192.00 congestion. Break of the latter will open up room for deeper pullback to the 190.00 congestion. Below this will return focus to the downside for retest of the 188.10/187.05 lows.