Published: 2025-08-21T07:19:24.000Z
Chart GBP/JPY Update: Consolidating test of 198.00, room for lower later
Technical Analyst
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Turned down from the 200.00/28 highs as prices unwind the overbought daily studies
| 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 | * | Jul high | S3 | 196.40/00 | ** | May, Mar highs | |
| R1 | 198.80/00 | * | Jun high, congestion | S4 | 195.00 | ** | 4 Aug low |
Asterisk denotes strength of level
07:15 GMT - Turned down from the 200.00/28 highs as prices unwind the overbought daily studies to reach support at the 198.00 level. Break here will see room for deeper pullback to retrace strong bounce from the 195.00 low. Lower will see deeper pullback to the 197.00 congestion then the 196.40/196.00, May/March highs. Meanwhile, resistance is lowered to the 198.80/199.00 June high and congestion area which is expected to cap and sustain losses from the 200.00/200.28 highs.