Chart USD/JPY Update: Extend choppy trade around 158.00
Little change, as prices extend choppy trade around the 158.00 level following rejection from the 158.77 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 160.50 | * | congestion | S1 | 157.50 | * | congestion | |
| R3 | 160.00 | ** | figure, congestion | S2 | 157.00 | ** | congestion | |
| R2 | 159.45 | * | Jan high | S3 | 156.07/00 | ** | 23 Oct low, congestion | |
| R1 | 159.00 | ** | congestion, 24 Sep high | S4 | 155.00 | ** | May low |
Asterisk denotes strength of level
01:00 GMT - Little change, as prices extend choppy trade around the 158.00 level following rejection from the 158.77 high of last week. Would take break here to open up room for retest of strong resistance at the 158.77/159.00 area which is expected to cap. Clearance, if seen, will extend bounce from the 152.90 September low and see room to retest 159.45 January high and the 160.00 level. Meanwhile, support remains at the 157.50/157.00 congestion area. Would take break here to return focus to the downside for retest of the 156.07 October low and see room for deeper pullback to the 155.00 support.