Published: 2025-07-21T07:36:23.000Z
Chart GBP/JPY Update: Limited pullback
Technical Analyst
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Leaning lower in choppy trade from test of the 199.80/200.00, October high and Friday's YTD July
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 203.80 | * | 12 Jul 2024 low | S1 | 198.00 | * | congestion | |
| R3 | 201.50 | * | 76.4% Jul/Aug 2024 fall | S2 | 196.80 | * | congestion | |
| R2 | 200.70 | * | May 2024 high | S3 | 196.40 | ** | May high | |
| R1 | 200.00 | ** | 18 Jul YTD high | S4 | 195.35 | ** | 2 Jul low |
Asterisk denotes strength of level
07:30 GMT - Leaning lower in choppy trade from test of the 199.80/200.00, October high and Friday's YTD July. Break here will further extend gains to retrace the sharp July/August 2024 losses to the 200.70 resistance. Higher still, will open up room for extension to 201.50, 76.4% Fibonacci level. Meanwhile, support at the 198.00 congestion underpin and see break here needed to open up room for deeper pullback to unwind the overbought daily studies and retrace strong gains from the April YTD low to the 196.80/196.40, congestion and May high.