Published: 2025-02-20T07:54:49.000Z
Chart GBP/JPY Update: Focus return to 188.07 and 187.05 lows
Technical Analyst
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Consolidation below the 192.00 level has given way to sharp break lower through the 190.00/189.32 support
| 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 | 190.60 | * | 17 Feb low | S4 | 185.00 | * | congestion |
Asterisk denotes strength of level
07:45 GMT - Consolidation below the 192.00 level has given way to sharp break lower through the 190.00/189.32 support as daily studies turned down from overbought areas. Break of the 189.00 congestion will open up room for retest of the December low at 188.07. Lower still will see scope to retest the 187.05, February year low and where break will extend the broader losses from the October high. Meanwhile, resistance is lowered to 190.00/190.60 area which is expected to cap and sustain losses from 193.04 high of last week.