Published: 2025-06-09T06:55:07.000Z
Chart GBP/JPY Update: Retest 196.00/196.40 resistance
Technical Analyst
2
Bounce from the 192.70 low of last week has seen gains to retest strong resistance at 196.00/40 congestion level and May high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.80 | ** | Oct high | S1 | 194.00 | * | congestion | |
| R3 | 199.00 | ** | Dec high | S2 | 192.70 | * | 3 Jun low | |
| R2 | 198.00 | * | congestion | S3 | 192.00 | ** | congestion, 22 May low | |
| R1 | 196.00/40 | ** | 14 May high, trendline | S4 | 190.00 | * | congestion |
Asterisk denotes strength of level
06:50 GMT - Bounce from the 192.70 low of last week has seen gains to retest strong resistance at 196.00/40 congestion level and May high. Reaction here see prices unwinding overbought intraday studies but a later break cannot be ruled. Daily studies are still tracking higher and clearance here will open up room for extension to 198.00/199.00 resistance zone. Meanwhile, support is raised to 194.00 congestion which should underpin and sustain gains from the 192.70/192.00 lows. Break here will fade the upside pressure and see pullback back to the 192.00 support.