Published: 2025-02-21T07:20:27.000Z
Chart GBP/JPY Update: Leaning lower in choppy trade
Technical Analyst
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Saw bounce from the 189.00 level to consolidate losses from the 193.04 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 193.50 | * | 2 Sep high, congestion | S1 | 189.00 | * | congestion | |
| R3 | 193.04 | ** | 13 Feb high | S2 | 188.07 | * | Dec low | |
| R2 | 192.00 | * | congestion | S3 | 187.05 | ** | 7 Feb YTD low | |
| R1 | 191.00 | * | congestion | S4 | 185.00 | * | congestion |
Asterisk denotes strength of level
07:10 GMT - Saw bounce from the 189.00 level to consolidate losses from the 193.04 high of last week. Choppy trade from the latter keeps pressure on the downside and see scope to retest the 188.07, December low. Below the latter will see room for retest of the February YTD low at 187.05. Break here will extend the broader losses from the October high and turn focus to the 183.71 and 180.09, September and August lows. Meanwhile, resistance at the 191.00/192.00 area is expected to cap and sustain losses from 193.04 high.