Published: 2025-06-02T06:51:16.000Z
Chart GBP/JPY Update: Pressure remains on the downside
Technical Analyst
1
Limited on break of 194.00 congestion, but pressure remains on the downside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.00 | ** | Dec high | S1 | 192.00 | ** | congestion, 22 May low | |
| R3 | 198.00 | * | congestion | S2 | 190.00 | * | congestion | |
| R2 | 196.00/40 | ** | 14 May high, trendline | S3 | 188.00 | * | Dec low | |
| R1 | 194.00 | * | congestion | S4 | 187.04 | * | Feb low |
Asterisk denotes strength of level
06:45 GMT - Limited on break of 194.00 congestion, but pressure remains on the downside following rejection from 196.00/40, May high and the October trendline. Lower will see room for deeper pullback to the 192.00 support. Below this will confirm a double top at the May highs and see deeper pullback to retrace rally from the 184.35, April YTD low. Lower still, will see room to support at 190.00 congestion and 188.00, December low. Meanwhile, resistance at 194.00/194.40 is expected to cap. Clearance, but not expected, is needed to open up room for extension to 198.00/199.00 congestion area.