Published: 2024-12-12T14:53:02.000Z
Chart USD/JPY Update: Gains to remain limited
Senior Technical Strategist
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Little change, as prices extend consolidation following the test of resistance at the 153.00 break level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 156.65 | ** | 76.4% ret of Jul-Sep fall | S1 | 152.00 | * | congestion | |
| R3 | 155.00 | * | congestion | S2 | 150.00 | * | break level | |
| R2 | 154.00 | * | break level | S3 | 149.00 | * | break level | |
| R1 | 153.00 | * | break level | S4 | 148.64 | ** | 3 Dec (w) low |
Asterisk denotes strength of level
14:20 GMT - Little change, as prices extend consolidation following the test of resistance at the 153.00 break level. Intraday studies are leaning lower, suggesting potential for a test back below congestion support at 152.00. But rising daily readings should limit scope in renewed buying interest/consolidation above 150.00. Meanwhile, a test above 153.00, if seen, will open up 154.00. But negative weekly charts are expected to prompt selling interest towards here.