Chart USD/JPY Update: Extending pressure on 155.00
Little change, as prices extend pressure on resistance at 155.00 in both USD- and JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 157.00 | * | congestion | S1 | 154.00 | * | break level | |
| R3 | 156.75 | late Jan (w) high | S2 | 153.00 | * | congestion | ||
| R2 | 155.88/00 | * | February high; congestion | S3 | 152.00 | * | congestion | |
| R1 | 155.00 | * | break level | S4 | 151.00 | break level |
Asterisk denotes strength of level
13:55 GMT - Little change, as prices extend pressure on resistance at 155.00 in both USD- and JPY-driven trade. Daily readings are mixed and overbought weekly stochastics are flat, suggesting potential for further consolidation around here. However, the weekly Tension Indicator is positive and longer-term charts are improving, highlighting room for a later break and continuation of April gains towards the 155.88 high of February and congestion around 156.00. Meanwhile, support remains at 154.00. A close beneath here, if seen, will turn sentiment neutral and give way to consolidation above congestion around 153.00.