Published: 2024-12-19T01:04:12.000Z
Chart USD/JPY Update: Extending gains
Technical Analyst
2
Consolidation around the 154.00 level has given way to renewed buying interest to pressure the 154.71/155.00 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 156.65/75 | ** | 76.4%, 15 Nov high | S1 | 152.86 | * | 11 Dec high | |
| R3 | 155.90 | * | 20 Nov high | S2 | 152.00 | ** | congestion | |
| R2 | 155.00 | * | congestion | S3 | 151.28/00 | * | 6 Nov low, congestion | |
| R1 | 154.71 | * | 7 Nov high | S4 | 150.00 | * | congestion |
Asterisk denotes strength of level
00:50 GMT - Consolidation around the 154.00 level has given way to renewed buying interest to pressure the 154.71/155.00 resistance. The daily and weekly studies are still positive and suggest scope for break here to open up room for retest of the 155.90 resistance. Clearance here will shift focus to the 156.75, November high. Meanwhile, support remains at the 153.00/152.86 area and this should now underpin. Failure here will open up room for deeper pullback to the 152.00/151.28 support.