Published: 2024-12-06T00:40:09.000Z
Chart USD/JPY Update: Extending consolidation at the 150.00 level
Technical Analyst
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Extending consolidation around the 150.00 level following bounce from the 148.64 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 154.00 | * | congestion | S1 | 150.00 | * | figure, congestion | |
| R3 | 153.28 | ** | 19 Nov low | S2 | 148.64 | ** | 3 Dec low | |
| R2 | 152.00 | * | congestion | S3 | 148.15 | * | 50% Sep/Nov rally | |
| R1 | 151.28 | * | 6 Nov low | S4 | 148.00 | * | congestion |
Asterisk denotes strength of level
00:30 GMT - Extending consolidation around the 150.00 level following bounce from the 148.64 low. Positive daily studies suggest scope for retest of the 151.28 and where break will open up stronger corrective bounce to the 152.00 level. Gains beyond this, if seen, will turn focus to the strong resistance at 153.28. However, corrective bounce expected to give way to renewed selling pressure later and below the 150.00 level will expose the 148.64 low to retest. Lower will open up room to support at the 148.15/00, 50% Fibonacci retracement and congestion area.