Published: 2026-06-03T13:16:25.000Z
Chart USD/JPY Update: Room for a test above 160.00
1
The anticipated test of congestion resistance at 160.00 is giving way to consolidation
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 161.95 | ** | July 2024 multi-year high | S1 | 159.00 | * | congestion | |
| R3 | 161.00 | ** | Jun-Jul 2024 congestion | S2 | 158.60~ | * | 20 May (w) low | |
| R2 | 160.72 | ** | 30 Apr YTD high | S3 | 158.00 | ** | congestion | |
| R1 | 160.00 | ** | congestion | S4 | 157.00 | break level |
Asterisk denotes strength of level
13:50 BST - The anticipated test of congestion resistance at 160.00 is giving way to consolidation, as overbought intraday studies unwind. Daily readings continue to rise and weekly stochastics are improving, highlighting room for a break above here. May gains will then target strong resistance at the 160.72 current year high of 30 April, where the flat weekly Tension Indicator could prompt renewed selling interest/consolidation. Meanwhile, support remains at congestion around 159.00 and should underpin any immediate setbacks.