Published: 2026-05-07T01:02:34.000Z
Chart USD/JPY Update: Turned up in consolidation from 155.00 spike low
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No follow-through on break of the 156.00 level as prices turned up from the spike low at the 155.00 level
| 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 | 154.15/00 | ** | 200-day MA, congestion | |
| R1 | 157.50 | * | 19 Mar low | S4 | 152.75 | * | 38.2% 2025/Apr rally |
Asterisk denotes strength of level
00:50 GMT - No follow-through on break of the 156.00 level as prices turned up from the spike low at the 155.00 level. Prices are back in consolidation above the 156.00 level but this is expected to give way to retest of support at the 155.00 level. Below this will see scope for extension to support at the 154.15/00, 200-day MA and congestion area. Choppy trade see resistance lowered to the 157.00 level ahead of the 157.50/158.00 area which is expected to cap and sustain losses from the 160.72 April current year high.