Published: 2024-12-09T14:34:44.000Z
Chart USD/JPY Update: Limited tests higher
Senior Technical Strategist
1
Little change, as prices extend cautious trade above support at 150.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 155.00 | * | congestion | S1 | 150.00 | * | break level | |
| R3 | 154.00 | * | break level | S2 | 149.00 | * | break level | |
| R2 | 153.00 | * | break level | S3 | 148.64 | ** | 3 Dec (w) low | |
| R1 | 152.00 | * | congestion | S4 | 148.15 | ** | 50% ret of Sep-Nov rally |
Asterisk denotes strength of level
14:25 GMT - Little change, as prices extend cautious trade above support at 150.00. Rising intraday studies and a tick higher in daily readings highlight potential for a move towards congestion resistance at 152.00. But broader weekly charts continue to deteriorate, suggesting increased selling interest towards here and difficulty sustaining any tests. Following cautious trade, fresh losses are looked for. A later break below 150.00 will open up 149.00, with a further close beneath here turning sentiment negative and extend November losses towards the 148.15 Fibonacci retracement.