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Published: 2025-07-04T06:52:27.000Z

Chart GBP/JPY Update: Choppy below 198.80 high

byPakLai Ng

Technical Analyst
-

Rebound from the 95.35 low has seen gains to retest the 198.00 level

 LevelsImpComment   LevelsImpComment
R4200.70*23 Jul 2024 low S1196.00*congestion
R3199.80**Oct high S2195.35*2 Jul low
R2198.80/00**27 Jun YTD high, congestion S3 194.00**congestion
R1198.00 congestion S4 193.30*38.2% Apr/Jun rally

Asterisk denotes strength of level

06:45 GMT - Rebound from the 95.35 low has seen gains to retest the 198.00 level but mixed daily and weekly studies suggest the resistance a at the 198.80/199.00 area to remains out of reach. Would take close below the 96.00 level to open up room for pullback to retest the 95.35 low and see room for extension to the strong support at the 194.00 congestion and 193.30, 38.2% Fibonacci level. Would take break above the 198.00 level and 198.80 June current year high to ope up the 199.80 high of October to retest.

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Topics
GBP/JPY-TA
DM-Technical
Technical Analysis

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