Published: 2025-07-09T07:10:18.000Z
Chart GBP/JPY Update: Retest 199.80, October high
Technical Analyst
1
Break above the 198.80/199.00 resistance further extend gains to reach 199.80 fresh year high and October 2024 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 203.80 | * | 12 Jul 2024 low | S1 | 198.80/00 | * | Jun high, congestion | |
| R3 | 201.50 | * | 76.4% Jul/Aug 2024 fall | S2 | 197.00 | * | congestion | |
| R2 | 200.70 | * | May 2024 high | S3 | 196.00 | * | May high, congestion | |
| R1 | 199.80 | ** | Oct high | S4 | 195.35 | ** | 2 Jul low |
Asterisk denotes strength of level
07:00 GMT - Break above the 198.80/199.00 resistance further extend gains to reach 199.80 fresh year high and October 2024 high. Overbought daily studies suggest reaction here likely while clearance will further retrace the sharp July/August 2024 losses and see room to 200.70 resistance and 201.50, 76.4% Fibonacci level. Meanwhile, support is raised to the 198.80/198.00, June high and congestion area which should underpin. Break here will open up room for deeper pullback to 197.00 congestion and strong support at 196.00/195.35 support and low of last week.