Published: 2026-05-18T13:04:02.000Z
Chart USD/JPY Update: Consolidating test of 159.00 - daily studies rising
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The anticipated test of congestion resistance at 159.00 is giving way to a minor pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 161.00 | ** | congestion | S1 | 158.00 | ** | congestion | |
| R3 | 160.72 | ** | 30 Apr YTD high | S2 | 157.00 | break level | ||
| R2 | 160.00 | ** | congestion | S3 | 156.00 | ** | congestion | |
| R1 | 159.00 | * | congestion | S4 | 155.40 | ** | 61.8% ret of Feb-Mar rally |
Asterisk denotes strength of level
13:55 BST - The anticipated test of congestion resistance at 159.00 is giving way to a minor pullback, as overbought intraday studies unwind, with prices currently trading around 158.70. Daily readings continue to rise, highlighting room for further gains in the coming sessions. But negative weekly charts should limit any immediate break above 159.00 in renewed selling interest within multi-week distribution beneath 160.00. Meanwhile, support remains at congestion around 158.00. A close beneath here would turn sentiment neutral and prompt fresh consolidation above 157.00.