Published: 2025-09-03T07:29:37.000Z
Chart GBP/JPY Update: Settled back in range from 200.00/28 highs
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Retest of the 200.00/28 congestion and August current year high has given way renewed selling pressure
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 201.50 | * | 76.4% Jul/Aug 2024 fall | S1 | 198.00 | * | congestion | |
| R3 | 200.28 | ** | 13 Aug YTD high | S2 | 197.00 | * | congestion | |
| R2 | 200.00 | * | congestion | S3 | 196.40/00 | ** | May, Mar highs | |
| R1 | 199.00 | * | congestion | S4 | 195.00 | ** | Aug low |
Asterisk denotes strength of level
07:25 GMT - Retest of the 200.00/28 congestion and August current year high has given way renewed selling pressure to return prices back below the 199.00 level. Daily and weekly studies have turned mixed and suggest further ranging action within the 200.00/198.00 area. Would take break of the 198.00 support to open up room for deeper pullback to retrace gains from the 195.00, August swing low. Meanwhile, resistance is lowered to the 199.00 level which is expected to cap and sustain rejection from the 200.00/28 highs.