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Published: 2025-09-03T07:29:37.000Z

Chart GBP/JPY Update: Settled back in range from 200.00/28 highs

byPakLai Ng

Technical Analyst
-

Retest of the 200.00/28 congestion and August current year high has given way renewed selling pressure

 LevelsImpComment   LevelsImpComment
R4201.50*76.4% Jul/Aug 2024 fall S1198.00*congestion                   
R3200.28**13 Aug YTD high S2197.00*congestion                   
R2200.00*congestion S3 196.40/00**May, Mar highs 
R1199.00*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.

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Topics
GBP/JPY-TA
DM-Technical
Technical Analysis

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