Published: 2025-12-23T14:54:48.000Z
Chart USD/JPY Update: Choppy at highs
1
Cautious trade has given way to a sharp pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 160.00 | ** | figure | S1 | 156.00 | * | congestion | |
| R3 | 158.88 | ** | 10 Jan YTD high | S2 | 155.00 | * | break level | |
| R2 | 157.90/00 | * | 20 Nov (m) high; break level | S3 | 154.34 | * | 5 Dec (w) low | |
| R1 | 157.00 | minor congestion | S4 | 154.00 | * | congestion |
Asterisk denotes strength of level
13:55 GMT - Cautious trade has given way to a sharp pullback, with prices testing below congestion support at 156.00 before bouncing sharply from 155.65 to trade around 156.45. Rising daily stochastics suggest room for a test of congestion resistance at 157.00. But the flattening daily Tension Indicator and mixed/negative weekly charts suggest difficulty sustaining any immediate break. In the coming sessions, cautious trade is looked for, with support at 156.00. A close beneath here will add weight to sentiment. But a further close below the 154.34 weekly low of 5 December is needed to turn sentiment negative and confirm continuation of late-November losses.