Published: 2026-10-16T13:15:05.000Z
Chart USD/JPY Update: Cautious trade - daily studies under pressure
2
Little change, as prices extend cautious trade around congestion resistance at 158.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 160.00 | ** | congestion | S1 | 157.00 | congestion | ||
| R3 | 159.75 | ** | intraday lows | S2 | 156.70 | * | 38.2% ret of Sep rally | |
| R2 | 159.00 | * | congestion | S3 | 155.95/00 | ** | 50% ret; congestion | |
| R1 | 158.00 | ** | congestion | S4 | 155.25 | ** | 61.8% ret of Sep rally |
Asterisk denotes strength of level
13:55 BST - Little change, as prices extend cautious trade around congestion resistance at 158.00. Daily stochastics and the daily Tension Indicator continue to fall, suggesting room for fresh losses towards congestion support at 157.00. However, mixed/positive weekly charts should limit any deeper retracement in short-covering/consolidation above the 156.70 Fibonacci retracement.
Meanwhile, a close back above 158.00 will help to stabilise price action and prompt fresh consolidation beneath 159.00.