Published: 2026-08-28T13:06:36.000Z
Chart USD/JPY Update: Edging higher
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Cautious trade is giving way to a test higher in JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 161.00 | congestion | S1 | 159.00 | congestion | |||
| R3 | 160.60 | ** | 61.8% ret of Jul-Aug fall | S2 | 158.50 | * | range highs | |
| R2 | 160.00 | * | congestion | S3 | 158.00 | * | congestion | |
| R1 | 159.50 | * | congestion tops | S4 | 157.00 | ** | congestion |
Asterisk denotes strength of level
13:50 BST - Cautious trade is giving way to a test higher in JPY-driven trade, with prices currently consolidating just above resistance at 159.50. Rising intraday studies and the positive daily Tension Indicator highlight room for continuation towards congestion resistance at 160.00. But flattening overbought daily stochastics and bearish weekly charts should limit any further strength in renewed selling interest/consolidation beneath the 160.60 Fibonacci retracement.
Meanwhile, support is raised to congestion around 159.00 and extends to 158.50. This range should underpin any immediate setbacks.