Chart USD/JPY Update: Fresh multi-year highs in both USD- and JPY-driven trade
Anticipated gains have posted a fresh multi-year high around 163.25~ in both USD- and JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 165.00 | ** | figure | S1 | 162.85~ | ** | 1 July (w) high | |
| R3 | 164.50 | ** | November 1986 high | S2 | 162.50 | * | congestion | |
| R2 | 163.95 | ** | December 1986 high | S3 | 162.00 | * | congestion | |
| R1 | 163.25~ | ** | 21 Jul multi-year high | S4 | 161.50 | * | intraday break level |
Asterisk denotes strength of level
13:15 BST - Anticipated gains have posted a fresh multi-year high around 163.25~ in both USD- and JPY-driven trade, where deteriorating intraday studies are prompting short-term reactions. Daily readings are rising and both weekly and longer-term charts are positive, pointing to room for further gains in the coming sessions. A close above here will improve sentiment and extend long-term gains towards the 163.95 high of December 1986. Meanwhile, support is down to congestion around 162.50. A close beneath here, if seen, would turn sentiment neutral and prompt fresh range extension within congestion above 162.00.