Published: 2026-07-09T06:28:16.000Z
Chart GBP/JPY Update: Reach fresh multi-year high
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Break to fresh high above 217.00 level has seen gains to reach the wedge top at 217.80/218.00 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 224.00 | * | congestion | S1 | 216.60 | * | Apr high | |
| R3 | 222.00 | * | Nov 2007 low | S2 | 216.00 | * | congestion | |
| R2 | 220.00 | * | congestion | S3 | 215.50 | ** | 15 Jun high | |
| R1 | 217.80 | ** | 8 Jul YTD high, wedge top | S4 | 214.50/00 | * | congestion |
Asterisk denotes strength of level
06:20 GMT - Break to fresh high above 217.00 level has seen gains to reach the wedge top at 217.80/218.00 area. Stretched daily studies suggest reaction here likely but a later break will extend the underlying bull trend from the 2011 year low and see room to the 220.00/222.00 congestion area and 2007 lows. Meanwhile, support is raised to the 216.60/215.50 congestion and April/June highs which should now underpin. Only below here will ease the upside pressure and see room for deeper pullback to retrace gains from 212.40 June low.