Published: 2025-10-24T07:01:32.000Z
Chart GBP/JPY Update: Extending gains
1
Break above resistance at the 203.50 congestion has seen prices extending gains to reach the 204.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 208.10 | ** | 11 Jul 2024 year high | S1 | 202.00 | * | congestion | |
| R3 | 206.00 | * | congestion | S2 | 201.25 | ** | Sep high | |
| R2 | 205.30 | ** | 8 Oct YTD high | S3 | 200.20 | * | 6 Oct low | |
| R1 | 204.00 | * | congestion | S4 | 198.85 | * | 3 Oct high, gap |
Asterisk denotes strength of level
07:00 GMT - Break above resistance at the 203.50 congestion has seen prices extending gains to reach the 204.00 level. Daily studies are tracking higher and suggest scope for break here to open up the 205.30 current year high to retest. Would expect reaction here but a later clearance cannot be ruled out. Higher will see room for extension to the 206.00 congestion and equidistant channel from July 2024 low. Meanwhile, support is raised to 202.00 level which should underpin. Break here will return focus to the downside for retest of 201.25 low and the gap area at 200.20/198.85.