Published: 2025-01-13T07:55:38.000Z
Chart GBP/JPY Update: Extending losses
Technical Analyst
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Sharply lower to extend break of the 94.18/93.50 support last week through the 192.00 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 196.00 | * | congestion | S1 | 190.60 | * | 9 Dec low | |
| R3 | 195.10 | * | 8 Jan low | S2 | 190.00 | * | congestion | |
| R2 | 194.18 | ** | 2 Jan low | S3 | 188.07 | ** | Dec low | |
| R1 | 193.50 | * | 9 Jan low | S4 | 187.55 | * | 61.8% Aug/Oct rally |
Asterisk denotes strength of level
07:50 GMT - Sharply lower to extend break of the 94.18/93.50 support last week through the 192.00 congestion. Losses see room to the 190.60 support and trendline from the August low. Negative daily and weekly studies highlights risk for break here and the 190.00 congestion to turn focus to the 188.07, December low. Lower still will see room to 187.55, 61.8% Fibonacci level. Meanwhile, resistance is lowered to the 193.50/194.18 recent lows which is now expected to cap and sustain losses from the 198.95 December high.