Published: 2025-06-13T07:45:34.000Z
Chart GBP/JPY Update: Extending choppy pullback from 196.00/40 resistance
Technical Analyst
1
Extending losses from resistance at the 196.00/40 congestion and May high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.80 | ** | Oct high | S1 | 194.00 | * | congestion | |
| R3 | 199.00 | ** | Dec high | S2 | 192.70 | * | 3 Jun low | |
| R2 | 198.00 | * | congestion | S3 | 192.00 | ** | congestion, 22 May low | |
| R1 | 196.00/40 | ** | 14 May high, trendline | S4 | 190.00 | * | congestion |
Asterisk denotes strength of level
07:40 GMT - Extending losses from resistance at the 196.00/40 congestion and May high as prices unwind overbought intraday studies. Daily studies have turned down from overbought areas to reach the 194.00 congestion. Break of the latter will fade the upside pressure and open up room for deeper pullback to 192.70 support and 192.00 congestion. Below the latter will confirm a double top at the 196.40 highs and see deeper correction of gains from 184.35, April YTD low. Would take break above 196.00/40 resistance to further extend gains to 198.00/199.00 area.