Published: 2026-07-07T01:05:19.000Z
Chart USD/JPY Update: Sharp bounce to regain 162.00
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Consolidation above the 161.00 level has given way to sharp bounce to regain the 162.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 164.00 | * | Dec 1986 high | S1 | 161.00 | * | congestion | |
| R3 | 163.00 | * | congestion from Dec 1986 | S2 | 160.48 | ** | 3 Jul low | |
| R2 | 162.84 | ** | 1 Jul multi-year high | S3 | 160.00 | * | congestion | |
| R1 | 162.50 | congestion | S4 | 159.50 | ** | congestion |
Asterisk denotes strength of level
00:50 GMT - Consolidation above the 161.00 level has given way to sharp bounce to regain the 162.00 level. Bullish price action highlights scope for retest of the 162.84 high. Break here if seen, will extend the underlying bull trend and see room for extension to 163.00/164.00 congestion from December 1986. Meanwhile, support remains at the 161.00 level which should underpin. Would take break here to expose the 160.48 Friday's low to retest and threatens deeper pullback to retrace rally from the May low to the 160.00 figure and strong support at 159.50.