Chart USD/JPY Update: Extending losses in JPY-dominant trade
Choppy trade around 160.00 has given way to a sharp fall in JPY-dominant trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 160.00 | * | congestion | S1 | 155.25~ | ** | 3 Aug (m) low | |
| R3 | 159.00 | * | congestion | S2 | 155.00 | ** | congestion; 76.4% ret | |
| R2 | 158.00 | * | congestion | S3 | 154.80 | ** | 38.2% ret of 2025-2026 rally | |
| R1 | 157.00 | * | congestion | S4 | 154.00 | * | congestion |
Asterisk denotes strength of level
14:15 BST - Choppy trade around 160.00 has given way to a sharp fall in JPY-dominant trade, with prices currently trading around 155.60. Immediate focus is on strong support within the 154.80 - 155.25~ range. But flat oversold intraday studies could limit any initial tests in consolidation, before deteriorating daily and weekly charts prompt further losses. A close below the 154.80 Fibonacci retracement will add weight to sentiment and extend late-July losses towards congestion around 154.00.
Meanwhile, resistance is up to congestion around 157.00. A close above here, not seen, would help to stabilise price action and prompt consolidation beneath further congestion around 158.00.