Published: 2024-12-03T00:44:05.000Z
Chart USD/JPY Update: Consolidating at 149.10/00 congestion, room for lower later
Technical Analyst
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Further extend losses last week to reach the 149.10/00 congestion area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 154.00 | * | congestion | S1 | 149.10/00 | * | congestion | |
| R3 | 153.28 | ** | 19 Nov low | S2 | 148.15 | * | 50% Sep/Nov rally | |
| R2 | 152.00 | * | congestion | S3 | 148.00 | * | congestion | |
| R1 | 150.75 | * | 2 Dec high | S4 | 147.35 | 8 Oct low |
Asterisk denotes strength of level
00:35 GMT - Further extend losses last week to reach the 149.10/00 congestion area and consolidation here see prices unwinding the oversold intraday studies. Negative daily and weekly studies suggest upside likely to remain limited and lower high sought to further pressure the downside later. Below the 149.00 level open up the strong support at 148.15/00, 50% Fibonacci retracement and congestion area to retest. Meanwhile, resistance is lowered to 150.75 then the 151.28/152.00 area which is expected to cap and limit corrective bounce.