Published: 2025-01-21T07:34:29.000Z
Chart GBP/JPY Update: Consolidating test of 190.00
Technical Analyst
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Limited on break of the 190.00 level with bounce from the 189.32 low unwinding the oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 195.10 | * | 8 Jan low | S1 | 190.00 | * | congestion | |
| R3 | 194.18 | ** | 2 Jan low | S2 | 188.07 | ** | Dec low | |
| R2 | 193.50 | * | 9 Jan low | S3 | 187.55 | * | 61.8% Aug/Oct rally | |
| R1 | 193.00 | * | 15 Jan high | S4 | 186.00 | * | congestion |
Asterisk denotes strength of level
07:20 GMT - Limited on break of the 190.00 level with bounce from the 189.32 low unwinding the oversold intraday studies. Nearby see resistance at the 193.00/193.50 area then the 194.18 low of 2 January. The latter expected to cap and test here to give way to fresh selling pressure later. Break of the 190.00 level and 189.32 low will extend losses from the December high and see room to the 188.07, December low. Below the latter will extend the broader losses from the 199.80 October high to the 187.55, 61.8% Fibonacci level.