Chart USD/JPY Update: Extend consolidation at 158.00
Little change, as prices extend choppy trade at the 158.00 level but gains kept in check at the 200-day MA, currently at 158.54
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 160.40/50 | * | Sep high, congestion | S1 | 157.50 | congestion | ||
| R3 | 160.00 | ** | figure, congestion | S2 | 157.00 | * | congestion | |
| R2 | 159.75 | * | 61.8% Jul/Sep fall | S3 | 156.50/00 | * | congestion | |
| R1 | 159.00 | * | congestion | S4 | 155.00 | ** | May low, congestion |
Asterisk denotes strength of level
00:50 GMT - Little change, as prices extend choppy trade at the 158.00 level but gains kept in check at the 200-day MA, currently at 158.54. The ascending triangle from the 156.50/00 support keep pressure on the upside and suggest scope for push higher to retest the 159.00 resistance. Break here will extend the broader gains from the 152.90 September low and see room for extension to 159.75 Fibonacci level then the strong resistance at the 160.00 figure. Meanwhile, support at the 157.50/157.00 area now underpin. Break here will ease the upside pressure and see room for deeper pullback to the 156.50/156.00 area.