Published: 2025-06-04T07:46:03.000Z
Chart GBP/JPY Update: Extend choppy trade within a 3-week range
Technical Analyst
-
Extending choppy trade within a 3-week range area as prices consolidate gains from the 184.35, April YTD low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.00 | ** | Dec high | S1 | 192.70 | * | 3 Jun low | |
| R3 | 198.00 | * | congestion | S2 | 192.00 | ** | congestion, 22 May low | |
| R2 | 196.00/40 | ** | 14 May high, trendline | S3 | 190.00 | * | congestion | |
| R1 | 195.00 | * | congestion | S4 | 188.00 | * | Dec low |
Asterisk denotes strength of level
07:25 GMT - Extending choppy trade within a 3-week range area as prices consolidate gains from the 184.35, April YTD low. Bounce from 192.70 low to regain the 194.00 level clears the way for retest of 195.00 then the strong resistance at 196.00/40 highs which is expected to cap. Clearance will open up room for extension to 198.00/199.00 resistance zone. Meanwhile, support is raised to 194.00 congestion ahead of 192.70/192.00 lows. Break here will see deeper pullback to retrace rally from the April low and see room to support at 190.00 congestion and 188.00, December low.