Published: 2025-06-19T07:35:06.000Z
Chart GBP/JPY Update: Extend rejection from October trendline
Technical Analyst
1
Extending rejection from the 196.83 high and the October trend line to reach the 194.00 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.00 | ** | Dec high | S1 | 194.00 | * | congestion | |
| R3 | 198.00 | * | congestion | S2 | 192.70 | * | 3 Jun low | |
| R2 | 196.83 | ** | 17 Jun high | S3 | 192.00 | ** | congestion, 22 May low | |
| R1 | 196.00 | * | congestion | S4 | 190.00 | * | congestion |
Asterisk denotes strength of level
07:30 GMT - Extending rejection from the 196.83 high and the October trend line to reach the 194.00 support. Daily studies have turned down from overbought areas and suggest room for break here to see deeper pullback to retrace gains from the April current year low. Lower will see room to the support at 192.70 then the 192.00 congestion. Below the latter will open up room for deeper pullback to the 190.00/188.00 congestion. Meanwhile, resistance at the 196.00 level is expected to cap and sustain losses from the 196.83 high.