Published: 2024-12-11T14:38:46.000Z
Chart USD/JPY Update: Limited tests higher
Senior Technical Strategist
2
The anticipated break above congestion around 152.00 has met selling interest beneath 153.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 155.00 | * | congestion | S1 | 150.00 | * | break level | |
| R3 | 154.00 | * | break level | S2 | 149.00 | * | break level | |
| R2 | 153.00 | * | break level | S3 | 148.64 | ** | 3 Dec (w) low | |
| R1 | 152.00 | * | congestion | S4 | 148.15 | ** | 50% ret of Sep-Nov rally |
Asterisk denotes strength of level
14:20 GMT - The anticipated break above congestion around 152.00 has met selling interest beneath 153.00, as intraday studies turn down, with prices once again trading below 152.00. A minor pullback is possible, but rising daily readings should limit any break below the 151.00~ current day low in renewed buying interest above support at 150.00. In the coming sessions, a run back to 153.00 cannot be ruled out. But negative weekly charts should limit any break to 154.00.