Published: 2026-01-12T07:55:09.000Z
Chart GBP/JPY Update: Extending gains
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Consolidation below 212.15 high last week has given way to break to extend the underlying bull trend
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 217.30 | * | 8 Jan 2008 high | S1 | 210.00 | * | congestion | |
| R3 | 216.00 | ** | Jul 2008 high | S2 | 209.00 | ** | 9 Dec high | |
| R2 | 214.00/10 | * | congestion, Aug 2008 high | S3 | 208.00 | * | congestion | |
| R1 | 213.00 | * | channel resistance | S4 | 207.20 | ** | Nov high |
Asterisk denotes strength of level
07:50 GMT - Consolidation below 212.15 high last week has given way to break to extend the underlying bull trend. Higher will see room for extension to the April channel resistance at 213.00 level. Higher still, if seen, will see room to 214.10/216.00 highs of August/July 2008. However, the overbought daily studies caution corrective pullback. Meanwhile, support at the 210.00 congestion area now underpin and sustain strong gains from the 199.05, November low. Only below this will open up room for deeper corrective pullback to support at the 209.00/208.00 area.