Published: 2025-07-01T06:50:53.000Z
Chart GBP/JPY Update: Leaning lower from 198.80 high
Technical Analyst
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Leaning lower from the 27 June current year high at 198.80 and pullback below the 198.00 level threatens deeper pullback to 197.00 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 202.00 | * | congestion | S1 | 197.00 | * | congestion | |
| R3 | 200.70 | * | 23 Jul 2024 low | S2 | 196.40/00 | * | May high, congestion | |
| R2 | 199.80 | ** | Oct high | S3 | 194.00 | ** | congestion | |
| R1 | 199.00 | ** | Dec high | S4 | 193.30 | * | 38.2% Apr/Jun rally |
Asterisk denotes strength of level
06:50 GMT - Leaning lower from the 27 June current year high at 198.80 and pullback below the 198.00 level threatens deeper pullback to 197.00 congestion. Would take break here to turn focus to the lower support at 196.40/196.00 area which is expected to underpin. Break here will fade the upside pressure and see deeper pullback to retrace April/June rally to 194.00 congestion and 193.30, 38.2 Fibonacci level. Meanwhile, resistance at 198.80 high is expected to cap. Would take break here and the 199.00 December high turn focus to the October high at 199.80.