Published: 2025-09-02T06:55:22.000Z
Chart GBP/JPY Update: Retest 200.00/28 highs
0
-
Extending bounce from the 198.00 support to retest the 200.00/28, congestion and 13 August current year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 202.00 | * | congestion | S1 | 199.00 | * | congestion | |
| R3 | 201.50 | * | 76.4% Jul/Aug 2024 fall | S2 | 198.00 | * | congestion | |
| R2 | 200.28 | ** | 13 Aug YTD high | S3 | 197.00 | * | congestion | |
| R1 | 200.00 | * | congestion | S4 | 196.40/00 | ** | May, Mar highs |
Asterisk denotes strength of level
06:50 GMT - Extending bounce from the 198.00 support to retest the 200.00/28, congestion and 13 August current year high. Positive daily and weekly studies suggest scope for break here to extend the broader gains from the August 2024 low and see room for extension to 201.50, 76.4% Fibonacci level. Higher still, will see room to the 202.00 congestion. Meanwhile, support is at the 199.00/198.00 congestion area is expected to underpin and sustain bounce from the 195.00, August swing low.