Published: 2026-05-11T00:54:57.000Z
Chart USD/JPY Update: Consolidating
2
Edging higher in consolidation above the 156.00 level following bounce from the 155.00 spike low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 159.45 | * | Jan high | S1 | 156.00 | * | congestion | |
| R3 | 159.00 | ** | congestion | S2 | 155.00 | * | congestion | |
| R2 | 158.00 | ** | congestion | S3 | 154.25/00 | ** | 200-day MA, congestion | |
| R1 | 157.50 | * | 19 Mar low | S4 | 152.75 | * | 38.2% 2025/Apr rally |
Asterisk denotes strength of level
00:45 GMT - Edging higher in consolidation above the 156.00 level following bounce from the 155.00 spike low. Choppy trade is expected to give way to renewed selling pressure later and break of the 156.00 level will open up room for retest the 155.00 low. Break of the latter will extend losses from the 160.72 current year high of 30 April and see scope for extension to support at the 154.25/00, 200-day MA and congestion area. Meanwhile, resistance remains at the 157.50/158.00 area which is expected to cap corrective bounce and sustain losses from the April current year high.