Published: 2026-08-06T13:10:52.000Z
Chart USD/JPY Update: Consolidating - potential for a minor test higher
1
Still little change, as prices extend consolidation beneath congestion resistance at 158.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 161.00 | * | congestion | S1 | 157.00 | ** | congestion | |
| R3 | 160.00 | * | congestion | S2 | 156.60 | ** | 61.8% ret of Jan-Jul rally | |
| R2 | 159.00 | * | congestion | S3 | 156.00 | congestion | ||
| R1 | 158.00 | * | congestion | S4 | 155.00 | ** | congestion; 38.2% ret |
Asterisk denotes strength of level
13:50 BST - Still little change, as prices extend consolidation beneath congestion resistance at 158.00. Intraday studies have turned mixed/positive and oversold daily stochastics are unwinding, suggesting room for a test above here. But the bearish daily Tension Indicator and negative weekly charts should limit scope in renewed selling interest beneath further congestion around 159.00. Following cautious/corrective trade, fresh losses are looked for. Support remains at congestion around 157.00. But a close below the 156.60 Fibonacci retracement add weight to sentiment and extend late-July losses initially to 156.00.