Published: 2025-09-08T07:40:59.000Z
Chart GBP/JPY Update: Consolidating retest of 200.00/30 highs
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Settled back from retest of the July/August highs at the 200.00/30 area to consolidate below the 200.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 202.00 | * | congestion | S1 | 199.00 | * | congestion | |
| R3 | 201.50 | * | 76.4% Jul/Aug 2024 fall | S2 | 198.00 | * | congestion | |
| R2 | 200.30 | ** | 13 Aug YTD high | S3 | 197.00 | * | congestion | |
| R1 | 200.00 | * | congestion | S4 | 196.40/00 | ** | May, Mar highs |
Asterisk denotes strength of level
07:30 GMT - Settled back from retest of the July/August highs at the 200.00/30 area to consolidate below the 200.00 level. Positive daily and weekly studies suggest scope for break later to further retrace the sharp July/August 2024 losses. Clearance will see room for extension to 201.50, 76.4% Fibonacci level. Meanwhile, support is raised to the 199.00 congestion which should underpin. Would take break here and the 198.00 support to return focus to the downside to retrace gains from the 195.00, August swing low.