Published: 2024-11-11T00:42:55.000Z
Chart USD/JPY Update: Consolidating above 152.00
Technical Analyst
1
Lower in consolidation following rejection from the 154.70 high of last week with pullback to see support at the 152.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 156.00 | * | congestion | S1 | 152.00 | * | congestion | |
| R3 | 155.22 | * | 30 Jul high | S2 | 151.28 | ** | 6 Nov low | |
| R2 | 154.70 | ** | 6 Nov high | S3 | 150.00 | ** | figure, congestion | |
| R1 | 154.00 | * | congestion | S4 | 149.00 | * | congestion |
Asterisk denotes strength of level
00:30 GMT - Lower in consolidation following rejection from the 154.70 high of last week with pullback to see support at the 152.00 level. Daily studies are tracking lower and break here will expose the 151.28 low to retest. However, the latter is expected to underpin and only failure here will weaken and see scope for retest of the 150.00 figure. Meanwhile, resistance is lowered to 153.85/154.00 area. Clearance here will see op up the 154.70 high to retest and see potential to extend bullish run-up from the September low to further retrace the July/September fall.