Published: 2026-03-12T01:03:33.000Z
Chart USD/JPY Update: Within reach of 159.45 January high
-
Consolidation at the 158.00 level has given way to fresh gains through the 158.90 Monday's high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 161.95 | ** | Jul 2024 year high | S1 | 158.00 | * | congestion | |
| R3 | 161.00 | * | congestion | S2 | 157.65 | * | Feb high | |
| R2 | 160.00 | ** | figure | S3 | 157.00 | * | congestion | |
| R1 | 159.45 | ** | 14 Jan YTD high | S4 | 156.45 | * | 5 Mar low |
Asterisk denotes strength of level
00:50 GMT - Consolidation at the 158.00 level has given way to fresh gains through the 158.90 Monday's high. Break above the 159.00 level opens up room for retest of the 159.45 January current year high. Would expect reaction here but a later clearance cannot be ruled out. Higher will extend the underlying bull trend from the 2011 low and see scope to target the 160.00 figure. Meanwhile, support is raised to the 158.00/157.65 area which should underpin. Below here will ease the upside pressure and see room for deeper pullback to retrace rally from the February low.