Published: 2024-11-05T00:43:59.000Z
Chart USD/JPY Update: Weighing on the 152.00 level
Technical Analyst
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No follow-through on probes below the 152.00 level but pressure building on the downside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 156.00 | * | congestion | S1 | 152.00 | * | congestion | |
| R3 | 155.22 | * | 30 Jul high | S2 | 151.45 | * | 25 Oct low | |
| R2 | 153.88/00 | ** | 28 Oct high, congestion | S3 | 151.00 | * | congestion | |
| R1 | 153.19 | * | 23 Oct high | S4 | 150.00 | ** | figure, congestion |
Asterisk denotes strength of level
00:40 GMT - No follow-through on probes below the 152.00 level but pressure building on the downside following rejection from the 153.40/154.00, Fibonacci level and congestion area. The daily studies have turned lower from deep overbought areas and highlights risk for break lower to retrace the strong gains from the September low. Clear break here will see room to the lower support at 151.45 then the 151.00 level. Lower still, will open up deeper losses to the 150.00 figure. Meanwhile, resistance at the 153.19 and 153.88 highs now expected to cap.