Published: 2025-07-11T06:48:26.000Z
Chart GBP/JPY Update: Choppy below 199.80, current year high
Technical Analyst
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Choppy below the 199.80 fresh year high and October 2024 high
| 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 | 199.80 | ** | Oct high | S4 | 195.35 | ** | 2 Jul low |
Asterisk denotes strength of level
06:50 GMT - Choppy below the 199.80 fresh year high and October 2024 high. Overbought daily studies suggest this high capping for now though a later break cannot be ruled out. Clearance will further retrace the sharp July/August 2024 losses and see room to 200.70 resistance and 201.50, 76.4% Fibonacci level. Meanwhile, support is at the 198.00 congestion which should underpin. Break here will open up room for deeper pullback to the strong support at 196.80/196.40 congestion and May high.