Published: 2025-07-31T06:47:32.000Z
Chart GBP/JPY Update: Under pressure, room for deeper pullback from 200.00 high
Technical Analyst
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Clear break of the 198.00 level and 197.45 support see prices extending pullback from the 200.00 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 200.70 | * | May 2024 high | S1 | 196.80 | * | congestion | |
| R3 | 200.00 | ** | 18 Jul YTD high | S2 | 196.40/00 | ** | May high, congestion | |
| R2 | 199.00 | * | congestion | S3 | 195.35 | ** | 2 Jul low | |
| R1 | 198.00 | * | congestion | S4 | 194.00 | * | congestion, 38.2% |
Asterisk denotes strength of level
06:40 GMT - Clear break of the 198.00 level and 197.45 support see prices extending pullback from the 200.00 high. Nearby see support at 196.80 and where break will further retrace the April/July gains and see room to strong support at the 196.40/196.00, May and March highs. Break here will turn focus to the 195.35 support and 194.00, congestion and 38.2% Fibonacci level. Meanwhile, resistance is lowered to the 198.00 level which is expected to cap and sustain losses from the 200.00 level.