Published: 2026-06-02T13:02:05.000Z
Chart USD/JPY Update: Pushing higher in JPY-driven trade
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Cautious trade is giving way to fresh gains in JPY-driven trade
| 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 - Cautious trade is giving way to fresh gains in JPY-driven trade, with prices currently trading around 159.75. Immediate focus is on congestion around 160.00. But overbought intraday studies could limit any initial tests in consolidation, before improving daily readings prompt a break. May gains will then target strong resistance at the 160.72 current year high of 30 April, where mixed weekly charts could prompt renewed selling interest/consolidation. Meanwhile, support remains at congestion around 159.00 and should underpin any immediate setbacks.