Published: 2025-07-23T07:05:39.000Z
Chart GBP/JPY Update: Limited below 198.00 level
Technical Analyst
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Still supported above the 198.00 level following pullback from the 199.80/200.00 resistance and 18 July YTD high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 203.80 | * | 12 Jul 2024 low | S1 | 198.00 | * | congestion | |
| R3 | 201.50 | * | 76.4% Jul/Aug 2024 fall | S2 | 196.80 | * | congestion | |
| R2 | 200.70 | * | May 2024 high | S3 | 196.40/00 | ** | May high, congestion | |
| R1 | 200.00 | ** | 18 Jul YTD high | S4 | 195.35 | ** | 2 Jul low |
Asterisk denotes strength of level
07:00 GMT - Still supported above the 198.00 level following pullback from the 199.80/200.00 resistance and 18 July YTD high. Clearance here will further extend gains to retrace the sharp July/August 2024 losses to the 200.70 resistance. Higher still, will open up room for extension to 201.50, 76.4% Fibonacci level. Meanwhile, support at the 198.00 congestion underpin and see close below this needed to open up room for deeper pullback to unwind the overbought daily studies and retrace strong gains from the April low to 196.80/196.40, congestion and May high.