Published: 2024-12-18T01:01:06.000Z
Chart USD/JPY Update: Lower in consolidation
Technical Analyst
2
Settling back in consolidation below the 154.71 resistance as prices unwind overbought intraday studies
| 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 - Settling back in consolidation below the 154.71 resistance as prices unwind overbought intraday studies. The daily studies are stretched as well and see room for deeper pullback from the 154.48 high towards support at 153.00/152.86 area. Lower still will see strong support at the 152.00 level expected to underpin and limit corrective pullback. Meanwhile, a later break above 154.48 high and 154.71 resistance will see room for extension to target the 155.00 congestion. Clearance here will return focus to the 155.90 and 156.75 highs.