Published: 2024-12-12T00:57:27.000Z
Chart USD/JPY Update: Extend corrective bounce, room to 153.00/28 area
Technical Analyst
4
Further extending gains from the low of last week with break above the 152.00 level opening up stronger bounce to the 153.00/28
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 156.00 | * | congestion | S1 | 152.00 | * | figure, congestion | |
| R3 | 154.71 | * | 7 Nov high | S2 | 151.28/00 | * | congestion | |
| R2 | 154.00 | * | congestion | S3 | 150.00 | * | congestion | |
| R1 | 153.28 | ** | 19 Nov low | S4 | 148.64 | ** | 3 Dec low |
Asterisk denotes strength of level
00:50 GMT - Further extending gains from the low of last week with break above the 152.00 level opening up stronger bounce to the 153.00/28 resistance. However, gains are seen corrective and expected to give way to renewed selling pressure later. Below the 152.00/151.28 support will return focus to the downside for retest of the 150.00 congestion then the 148.64 low. Losses through the latter will see room to further retrace the September/November rally and see room towards 148.15/00, 50% Fibonacci retracement and congestion area.