Chart USD/JPY Update: Extending bounce from 152.88 low
Consolidation around the 154.00 level has given way to fresh gains to extend bounce from the 153.00/152.88 congestion and low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 158.00 | ** | congestion | S1 | 154.00 | * | congestion | |
| R3 | 157.50 | * | congestion | S2 | 152.88 | ** | 8 Sep low | |
| R2 | 156.75/00 | ** | 4 Sep high, congestion | S3 | 152.10 | ** | 27 Jan YTD low | |
| R1 | 156.00 | * | congestion | S4 | 152.00 | * | 50% 2025/2026 rally |
Asterisk denotes strength of level
00:45 GMT - Consolidation around the 154.00 level has given way to fresh gains to extend bounce from the 153.00/152.88 congestion and low to break strong resistance at 155.00/22 May/August lows. Clearance here see room for stronger gains to retrace recent sharp losses from the 160.00/50 resistance to the 156.00 level. Higher still, if seen, will see room to the 156.75/157.00 area. Corrective gains are expected to give way to fresh selling pressure later. Below the 154.00 congestion and 152.88 low will turn focus to the June current year low at 152.10 and the 152.00, 50% Fibonacci level.