Published: 2025-10-29T07:32:04.000Z
Chart GBP/JPY Update: Sharp pullback from 204.00/25 highs
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Sharply lower following rejection from the 204.00/204.25 highs as prices unwind the overbought intraday and daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 206.00 | * | congestion | S1 | 201.25 | ** | Sep high | |
| R3 | 205.30 | ** | 8 Oct YTD high | S2 | 200.20/00 | * | 6 Oct low, congestion | |
| R2 | 204.00 | * | congestion | S3 | 198.85 | * | 3 Oct high, gap | |
| R1 | 202.00 | * | congestion | S4 | 198.00/50 | ** | congestion, 2 Oct low |
Asterisk denotes strength of level
07:30 GMT - Sharply lower following rejection from the 204.00/204.25 highs as prices unwind the overbought intraday and daily studies. Follow-through below the 202.00 level see pressure returning to the 201.25 support and break here will see room for extension to retest support at the 200.20/200.00 area. Lower still will see room to the 3 October high and gap area at 198.85. Meanwhile, resistance is lowered to the 202.00 congestion, now expected to cap and limit corrective bounce.