Published: 2025-01-23T00:50:27.000Z
Chart USD/JPY Update: Higher in consolidation from 155.00 support
Technical Analyst
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Consolidation above the 155.00 level has seen given way to bounce through the 156.00 level to retest strong resistance at 156.75
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 158.87 | ** | 10 Jan YTD high | S1 | 155.00 | * | congestion | |
| R3 | 158.00 | * | congestion | S2 | 154.70 | * | 6 Nov high, congestion | |
| R2 | 157.00 | * | congestion | S3 | 154.00 | * | congestion | |
| R1 | 156.75 | ** | Nov high | S4 | 153.16 | * | 17 Dec low |
Asterisk denotes strength of level
00:40 GMT - Consolidation above the 155.00 level has seen given way to bounce through the 156.00 level to retest strong resistance at 156.75, November high. However, the resulting flag pattern suggest consolidation to give way to renewed selling pressure later with break of the 155.00 level to open up room for deeper pullback to retrace the December/January rally. Lower will see room to the 154.00 level and 153.16 support. Meanwhile, break above the 156.75 resistance, if seen, will open up stronger gains to the 157.00/158.00 congestion area.