Published: 2025-06-17T07:30:42.000Z
Chart GBP/JPY Update: Retest strong resistance at 196.00/40
Technical Analyst
1
Back to retest resistance at the 196.00/40 congestion and May high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.80 | ** | Oct high | S1 | 195.00 | * | congestion | |
| R3 | 199.00 | ** | Dec high | S2 | 194.00 | * | congestion | |
| R2 | 198.00 | * | congestion | S3 | 192.70 | * | 3 Jun low | |
| R1 | 196.00/40 | ** | 14 May high, trendline | S4 | 192.00 | ** | congestion, 22 May low |
Asterisk denotes strength of level
07:25 GMT - Back to retest resistance at the 196.00/40 congestion and May high. Close above here will further extend gains from the April YTD low at 184.35 to open up room for retest of the 198.00 congestion. Overbought daily studies suggest reaction at the latter likely. Clearance here, if seen, will return focus to the 199.00/199.80, the December/October highs. Meanwhile, support is raised to the 195.00/194.00 area which is expected to underpin. Below the latter will fade the upside pressure and open up room for deeper pullback to 192.70 support and 192.00 congestion.