Published: 2024-12-11T07:12:10.000Z
Chart GBP/JPY Update: Extending gains
Technical Analyst
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Extending gains from the 188.07 low and break above the 193.50 resistance further correct losses from the October high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 196.70 | * | 8 Nov low | S1 | 192.00 | * | congestion | |
| R3 | 196.00 | * | congestion | S2 | 190.60 | * | 9 Dec low | |
| R2 | 195.35 | ** | 31 Oct low | S3 | 190.00 | * | congestion | |
| R1 | 194.00 | * | congestion | S4 | 188.07/00 | ** | 3 Dec low, congestion |
Asterisk denotes strength of level
07:10 GMT - Extending gains from the 188.07 low and break above the 193.50 resistance further correct losses from the October high to reach the 194.00 congestion. Gains beyond this will see room to strong resistance at the 195.35, 31 October low, then the 196.00 level. However, corrective bounce is expected to give way to selling pressure later with support raised to the 192.00 congestion which now underpin. Would take break here to return focus to the downside for retest of the 190.60/190.00 area then the 188.07 low.