Published: 2025-07-29T06:44:24.000Z
Chart GBP/JPY Update: Extending pullback from 200.00 high
Technical Analyst
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Consolidation above the 198.00 level has given way to selling pressure to extend pullback from the 200.00, current year highs
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 201.50 | * | 76.4% Jul/Aug 2024 fall | S1 | 197.45 | 22 Jul low | ||
| 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 | 195.35 | ** | 2 Jul low |
Asterisk denotes strength of level
06:40 GMT - Consolidation above the 198.00 level has given way to selling pressure to extend pullback from the 200.00, current year highs. Nearby see the low of last week and rising wedge support at 197.45 to watch break here will open up room to strong support at the 196.80/196.40, congestion and May high. Break here will see room to 195.35 support and 194.00, 38.2% Fibonacci level. Meanwhile, resistance is lowered to the 199.00 level which should cap and sustain losses from the 200.00 level.