Published: 2025-08-01T07:43:02.000Z
Chart GBP/JPY Update: Back in range above 198.00 support
Technical Analyst
1
Rebound from above the 196.80 support to regain the 198.00 level see prices reversing pullback from the 200.00 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 202.00 | * | congestion | S1 | 198.00 | * | congestion | |
| R3 | 200.70 | * | May 2024 high | S2 | 196.80 | * | congestion | |
| R2 | 200.00 | ** | 18 Jul YTD high | S3 | 196.40/00 | ** | May high, congestion | |
| R1 | 199.00 | * | congestion | S4 | 194.00 | * | congestion, 38.2% |
Asterisk denotes strength of level
07:30 GMT - Rebound from above the 196.80 support to regain the 198.00 level see prices reversing pullback from the 200.00 high. Mixed daily studies suggest the latter keeping out of reach and further choppy trade to retest the 196.80 support cannot be ruled out. Break here and the 196.40/196.00 area needed to open up room for deeper pullback to 195.35 support and 194.00, 38.2% Fibonacci level. Break above 200.00 high will extend the April gains and see extension to resistance at 200.70 and 202.00 congestion.