Published: 2025-02-17T08:18:18.000Z
Chart GBP/JPY Update: Extend pullback from 193.04 high
Technical Analyst
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Extending pullback below the 192.00 level from the 193.04 high as prices unwind the overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 194.74 | ** | 24 Jan high | S1 | 190.00 | ** | congestion | |
| R3 | 193.50 | * | 2 Sep high, congestion | S2 | 189.32 | * | Jan low | |
| R2 | 193.04 | ** | 13 Feb high | S3 | 188.07 | * | Dec low | |
| R1 | 192.00 | * | congestion | S4 | 187.05 | ** | 7 Feb YTD low |
Asterisk denotes strength of level
08:15 GMT - Extending pullback below the 192.00 level from the 193.04 high as prices unwind the overbought intraday studies. Break of the 191.00 level see room for extension to retest the 190.00 congestion and 189.32 low of January. Below the latter will return focus to the downside for retest of the 188.07 and 187.05 lows. Meanwhile, resistance is lowered to the 192.00 congestion which is expected to cap. Break here, if seen, will open up the 193.04 high to retest and see room for extension to 193.50 resistance.