Published: 2025-11-18T01:09:11.000Z
Chart USD/JPY Update: Extending gains
1
Consolidation below the 155.00 level has given way to break to extend gains within the rising channel from the April low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 158.00 | * | congestion | S1 | 154.45 | * | congestion | |
| R3 | 157.00 | * | congestion | S2 | 154.00 | * | congestion | |
| R2 | 156.75 | * | 23 Jan high | S3 | 153.27/00 | ** | 10 Oct high, congestion | |
| R1 | 156.00 | * | congestion | S4 | 152.81 | * | 7 Nov low |
Asterisk denotes strength of level
01:00 GMT - Consolidation below the 155.00 level has given way to break to extend gains within the rising channel from the April low. Higher will see room to the 155.50 channel resistance and the 156.00 level. However, deep overbought daily and weekly studies caution corrective pullback with support raised to the 154.45/154.00 congestion area. Would take break here to open up room for deeper pullback to retrace recent strong gains from the 145.50, September low towards strong support at the 153.27/153.00 area and 152.81, 7 November low.