Published: 2025-10-23T07:29:46.000Z
Chart GBP/JPY Update: Extending gains
1
Extend bounce from the 201.25 support to retest resistance at the 203.50 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 208.10 | ** | 11 Jul 2024 year high | S1 | 202.00 | * | congestion | |
| R3 | 206.00 | * | congestion | S2 | 201.25 | ** | Sep high | |
| R2 | 205.30 | ** | 8 Oct YTD high | S3 | 200.20 | * | 6 Oct low | |
| R1 | 203.50 | * | congestion | S4 | 198.85 | * | 3 Oct high, gap |
Asterisk denotes strength of level
07:30 GMT - Extend bounce from the 201.25 support to retest resistance at the 203.50 congestion. Daily studies have turned positive and suggest scope for break here to open up the 205.30 current year high to retest. Would expect reaction here but a later clearance cannot be ruled out. Higher will see room for extension to the 206.00 congestion then July 2024 year high at 208.10. Meanwhile, support is raised to 202.00 level which should underpin. Break here will return focus to the downside for retest of 201.25 low and see the gap area at 200.20/198.85 attracting.