Published: 2025-08-22T07:36:58.000Z
Chart GBP/JPY Update: Higher in range from 198.00 support
Technical Analyst
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Turned up in range from test of the 198.00 level to retest the 199.00 congestion
| 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
07:35 GMT - Turned up in range from test of the 198.00 level to retest the 199.00 congestion. Break here is needed to open up the 200.00 level and 200.28 high to retest and extend gains from the 184.35, April current year low. However, daily studies are still unwind overbought readings and see this area expected to cap on retest. Would take break of the 198.00 level to open up room for deeper pullback to retrace strong bounce from the 195.00 low. Lower will see room to the 197.00 congestion then the 196.40/196.00, May/March highs.