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Published: 2025-10-03T07:31:57.000Z

Chart GBP/JPY Update: Higher in consolidation from 197.50 low

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Turned up from the 197.50 low as prices consolidate losses from the 200.50 high of last week

 LevelsImpComment   LevelsImpComment
R4201.25**18 Sep YTD high S1198.00*congestion                    
R3200.50*26 Sep high S2197.50*2 Oct low
R2200.00*Jul high, congestion S3 196.40*May high
R1199.00/10*congestion, 22 Sep low S4 196.00**Mar high

Asterisk denotes strength of level

07:30 GMT - Turned up from the 197.50 low as prices consolidate losses from the 200.50 high of last week. Bounce see prices unwinding oversold intraday and daily studies but this is expected to give way to renewed selling pressure later open up deeper pullback to retrace gains from the 195.00, August low. Lower will see room for extension to the strong support at the 196.40/196.00, May and March highs. Meanwhile, resistance at the 199.00/10 congestion and 22 September low is expected to cap corrective bounce.

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Topics
GBP/JPY-TA
DM-Technical
Technical Analysis

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