Published: 2026-01-29T08:05:57.000Z
Chart GBP/JPY Update: Higher in consolidation
2
Drifting higher from the 209.60 low as prices consolidate losses from the 214.85 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 216.00 | * | Jul 2008 high | S1 | 210.00 | * | congestion | |
| R3 | 214.85 | ** | 23 Jan YTD high | S2 | 209.00 | ** | 9 Dec high | |
| R2 | 214.30 | * | 13 Jan high | S3 | 208.10 | ** | congestion, 2024 year high | |
| R1 | 212.00/50 | * | congestion | S4 | 206.80 | * | 16 Dec low |
Asterisk denotes strength of level
08:00 GMT - Drifting higher from the 209.60 low as prices consolidate losses from the 214.85 high. The resulting flag pattern suggest gains giving way to renewed selling pressure later to open up room for deeper pullback within the bullish channel from the April low. Lower will see room to support at 209.00 then 208.10, 2024 year high. Meanwhile, resistance at the 212.00/50 congestion area is expected to cap. Regaining this will return focus to the upside and see potential for retest of the 214.30 and 214.85 highs.