Published: 2025-09-18T07:04:50.000Z
Chart GBP/JPY Update: Consolidating, room for higher later
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Lower in consolidation from the 200.75 high but shallow pullback keeps pressure on the upside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 204.00 | ** | congestion | S1 | 200.00 | * | Jul high | |
| R3 | 202.00 | * | congestion | S2 | 199.00 | * | congestion | |
| R2 | 201.50 | * | 76.4% Jul/Aug 2024 fall | S3 | 198.00 | ** | congestion | |
| R1 | 200.75 | ** | 15 Sep YTD high | S4 | 197.00 | * | congestion |
Asterisk denotes strength of level
07:00 GMT - Lower in consolidation from the 200.75 high but shallow pullback keeps pressure on the upside. Positive daily and weekly studies suggest scope for break here to further retrace the sharp July/August 2024 losses. Higher will see room for extension to 201.50/202.00, 76.4% Fibonacci level and congestion area. Meanwhile, support at the 199.50/199.00 area should underpin. Would take break here to fade the upside pressure and open up room for deeper pullback to 198.00 congestion.