Published: 2026-07-09T01:00:07.000Z
Chart USD/JPY Update: Poised for retest of 162.84 high
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Still pressing higher with bullish price action closing in on retest of the 162.84 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.95 | ** | Nov 1986 high | S1 | 162.00 | * | congestion | |
| R3 | 164.00 | * | Dec 1986 high | S2 | 161.00 | * | congestion | |
| R2 | 163.00 | * | congestion from Dec 1986 | S3 | 160.48 | ** | 3 Jul low | |
| R1 | 162.84 | ** | 1 Jul multi-year high | S4 | 160.00 | * | congestion |
Asterisk denotes strength of level
01:00 GMT - Still pressing higher with bullish price action closing in on retest of the 162.84 high. Break here, if seen, will extend the underlying bull trend and see room for gains to the 163.00/164.00 congestion and high of December 1986. However, overbought daily and weekly studies caution corrective pullback with support starting at the 162.00/161.00 congestion area. Would take break here to expose the 160.48, 3 July low, to retest and threatens deeper pullback to retrace rally from the May low to the 160.00 figure and strong support at 159.50.