Published: 2026-07-07T06:43:11.000Z
Chart GBP/JPY Update: Break to fresh year high
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Consolidation below the 216.00 level has given way to rebound to reach fresh year high above 217.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 222.00 | * | congestion | S1 | 216.00 | * | congestion | |
| R3 | 220.00 | * | congestion | S2 | 215.50 | ** | mid-Jun high | |
| R2 | 217.80 | * | wedge top | S3 | 214.50/00 | * | congestion | |
| R1 | 217.20 | fresh year high | S4 | 213.00 | * | congestion |
Asterisk denotes strength of level
06:40 GMT - Consolidation below the 216.00 level has given way to rebound to reach fresh year high above 217.00. Higher will see further gains within the wedge pattern from the February year low and see room to the wedge top at the 217.80 and 218.00 level. Stretched daily studies suggest reaction here likely but a later break will turn focus to the 220.00/222.00 congestion area. Meanwhile, support is raised to the 216.00/215.50 congestion and mid-June high which should now underpin. Only below here will ease the upside pressure and see room for pullback to retrace gains from 212.40 June low.