Published: 2025-05-29T06:52:31.000Z
Chart GBP/JPY Update: Pressuring 196.00/40 resistance
Technical Analyst
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Break above congestion at 194.00 has seen extension to retest the 196.00/40, congestion and October trendline
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.80 | ** | congestion | S1 | 194.00 | * | congestion | |
| R3 | 199.00 | ** | Dec high | S2 | 192.00 | ** | congestion, 22 May low | |
| R2 | 198.00 | * | congestion | S3 | 190.00 | * | congestion | |
| R1 | 196.00/40 | ** | 14 May high, trendline | S4 | 18800 | * | Dec low |
Asterisk denotes strength of level
06:45 GMT - Break above congestion at 194.00 has seen extension to retest the 196.00/40, congestion and October trendline. Daily and weekly studies are tracking higher and suggest scope for break to extend the April gains. Higher will see room to strong resistance at 198.00 and 199.00, congestion and December high. Meanwhile, support is raised to 194.00 congestion which is expected to underpin and sustain bounce from 192.00 support. Below this will return focus to the downside to retrace strong gains from the 184.35, April YTD low.