Published: 2025-08-29T07:27:21.000Z
Chart GBP/JPY Update: Extend choppy trade above 198.00 support
Technical Analyst
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Little change, as prices extend choppy trade above the 198.00 support
| 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 | 199.00 | * | congestion | S4 | 195.00 | ** | 4 Aug low |
Asterisk denotes strength of level
07:25 GMT - Little change, as prices extend choppy trade above the 198.00 support. The resulting flag pattern highlights risk for break here to extend rejection from the 200.28 high to retrace rally from the 195.00 low. Lower will see room to the 197.00 congestion then the strong support at the 196.40/196.00, May/March highs. Break here will expose 195.00 low to retest. Meanwhile, resistance at the 200.00/200.28 highs are expected to cap. Clearance here will further extend the broader gains from August 2024 low and see room to 201.50/202.00, Fibonacci level/congestion.