Published: 2026-07-27T12:49:40.000Z
Chart USD/JPY Update: Extending cautious trade beneath December 1986 highs - background studies positive
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Cautious trade has given way to a pullback to 163.35
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | ** | figure | S1 | 163.00 | congestion | ||
| R3 | 165.00 | ** | figure | S2 | 162.85~ | ** | 1 July (w) high | |
| R2 | 164.50 | ** | November 1986 high | S3 | 162.50 | * | congestion | |
| R1 | 163.95 | ** | December 1986 high | S4 | 162.00 | * | congestion |
Asterisk denotes strength of level
13:30 BST - Cautious trade has given way to a pullback to 163.35, where oversold intraday studies are prompting a bounce. Overbought daily stochastics are ticking lower, suggesting room for a test beneath 163.35 towards congestion around 163.00 and the 162.85 weekly high of 1 July. However, the positive daily Tension Indicator and rising weekly charts should prompt renewed buying interest/consolidation within here. Following cautious/corrective trade, fresh gains are looked for. However, a close above the 163.95 high of December 1986 is needed to improve sentiment and extend long-term gains towards the 164.50 high of November 1986.