Chart USD/JPY Update: Consolidating sharp losses - studies under pressure
The anticipated test of support at the 155.25~ monthly low of 3 August is giving way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 160.00 | * | congestion | S1 | 155.25~ | ** | 3 Aug (m) low | |
| R3 | 159.00 | * | congestion | S2 | 155.00 | ** | congestion; 76.4% ret | |
| R2 | 158.00 | * | congestion | S3 | 154.80 | ** | 38.2% ret of 2025-2026 rally | |
| R1 | 157.00 | * | congestion | S4 | 154.00 | * | congestion |
Asterisk denotes strength of level
13:35 BST - The anticipated test of support at the 155.25~ monthly low of 3 August is giving way to a bounce, as negative intraday studies turn higher, with prices currently trading around 156.35. Daily stochastics and the daily Tension Indicator continue to track lower, and broader weekly charts are also under pressure, highlighting room for further losses in the coming sessions. Support remains strong within the 154.80 - 155.25~ range. A later close below the 154.80 Fibonacci retracement will add weight to sentiment and extend late-July losses towards congestion around 154.00.
Meanwhile, resistance remains up to congestion around 157.00. An unexpected close above here would help to stabilise price action and prompt consolidation beneath further congestion around 158.00.