Chart USD/JPY Update: Balanced beneath fresh year high - studies rising
Little change, as prices extend consolidation following a spike to a fresh year high at 153.20~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 154.80/00 | ** | 12 Feb (w) high; cong | S1 | 150.92/10 | ** | Mar-Aug (m) highs | |
| R3 | 154.40 | ** | 76.4% ret of Jan-Apr fall | S2 | 150.00 | ** | congestion | |
| R2 | 154.00 | ** | congestion | S3 | 149.00 | * | congestion | |
| R1 | 153.20~ | current 2025 year high | S4 | 148.00 | * | break level |
Asterisk denotes strength of level
14:05 BST - Little change, as prices extend consolidation following a spike to a fresh year high at 153.20~. Rising daily stochastics are flattening in overbought areas, suggesting potential for further consolidation into the coming sessions. But the rising daily Tension Indicator and positive weekly charts are expected to prompt later fresh gains. A break above 153.20 will extend April gains towards critical resistance at congestion around 154.00 and the 154.40 Fibonacci retracement. However, already overbought daily stochastics are expected to limit any initial tests of this range in consolidation/profit-taking. Meanwhile, support is down to the 150.92 - 151.10 monthly highs from March-August. A close beneath here, if seen, would turn sentiment neutral and prompt consolidation above congestion around 150.00.