Published: 2026-01-20T07:15:47.000Z
Chart GBP/JPY Update: Extending bounce, focus return to 214.30 high
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Bounce from the 210.60 low to regain the 212.00 level see prices extending gains to reach 213.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 219.30 | ** | Aug 2007 low, 76.4% | S1 | 212.00 | congestion | ||
| R3 | 217.30 | * | 8 Jan 2008 high | S2 | 210.60/00 | * | 19 Jan low, congestion | |
| R2 | 216.00 | ** | Jul 2008 high | S3 | 209.00 | ** | 9 Dec high | |
| R1 | 214.00/30 | ** | congestion, 13 Jan YTD high | S4 | 208.10 | ** | congestion, 2024 year high |
Asterisk denotes strength of level
07:10 GMT - Bounce from the 210.60 low to regain the 212.00 level see prices extending gains to reach 213.00 level. Higher still, will see room to retest the 214.00/30 congestion and 13 January current year high, where reaction can be expected. Clearance here, will further extend gains within the bullish channel from the April low and see room to 215.00 level then the 216.00, July 2008 high. Meanwhile, support is raised to the 212.00 congestion. Below this will open up room for retest of strong support at the 210.60/210.00 congestion area.