Published: 2024-11-06T01:06:31.000Z
Chart USD/JPY Update: Sharp bounce from 151.28, intraday low
Technical Analyst
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Turned up sharply from 151.28 intrtaday low as prices unwind oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 156.00 | * | congestion | S1 | 151.28 | * | intraday low | |
| R3 | 155.22 | * | 30 Jul high | S2 | 151.00 | * | congestion | |
| R2 | 153.88/00 | ** | 28 Oct high, congestion | S3 | 150.00 | ** | figure, congestion | |
| R1 | 153.19 | * | 23 Oct high | S4 | 149.00 | * | congestion |
Asterisk denotes strength of level
01:00 GMT - Turned up sharply from 151.28 intrtaday low as prices unwind oversold intraday studies. Further choppy trade can be expected with bounce to see resistance at the 153.00/19 area. Break here will expose the 153.88 high to retest though this is expected to keep gains in check. Break will further retrace the July/September losses and see scope to the 155.22 resistance then 156.00 congestion. Meanwhile, support is at the 151.28 low. Break here needed to see room to the 151.00 level. Lower still, will open up deeper losses to the 150.00 figure.