Published: 2025-01-21T00:46:39.000Z
Chart USD/JPY Update: Consolidating test of 155.00, break in focus
Technical Analyst
2
Consolidating test of the 155.00 level but pressure remains on the downside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 158.00 | * | congestion | S1 | 154.70 | * | 6 Nov high, congestion | |
| R3 | 157.00 | * | congestion | S2 | 154.00 | * | congestion | |
| R2 | 156.75 | ** | Nov high | S3 | 153.16 | * | 17 Dec low | |
| R1 | 156.00 | * | congestion | S4 | 152.00 | * | congestion |
Asterisk denotes strength of level
00:40 GMT - Consolidating test of the 155.00 level but pressure remains on the downside. Daily studies are tracking lower and suggest scope for break here to extend losses from the 158.87 high. Nearby see room to the 154.70 support though potential is for deeper retracement of the December/January rally to the 154.00 level. Meanwhile, resistance is lowered to the previous support at 156.00 and this extend to the 156.75, November high. This area now expected to cap and sustain losses from the 158.87 high.