Published: 2025-07-04T06:52:27.000Z
Chart GBP/JPY Update: Choppy below 198.80 high
Technical Analyst
1
Rebound from the 95.35 low has seen gains to retest the 198.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 200.70 | * | 23 Jul 2024 low | S1 | 196.00 | * | congestion | |
| R3 | 199.80 | ** | Oct high | S2 | 195.35 | * | 2 Jul low | |
| R2 | 198.80/00 | ** | 27 Jun YTD high, congestion | S3 | 194.00 | ** | congestion | |
| R1 | 198.00 | 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.