Published: 2024-10-23T00:55:39.000Z
Chart USD/JPY Update: Extending gains, focus on the 152.00 resistance
Technical Analyst
4
Consolidation at the 150.90 resistance has given way to break to further retrace the July/September losses
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 153.40 | * | 61.8% Jul/Sep fall | S1 | 150.00 | * | 14 Oct high | |
| R3 | 152.65 | 30 Jul low | S2 | 148.85 | * | 15 Oct low | ||
| R2 | 152.00 | ** | congestion | S3 | 148.00 | * | congestion | |
| R1 | 151.90 | ** | Nov 2023 year high | S4 | 147.35 | * | 8 Oct low |
Asterisk denotes strength of level
00:45 GMT - Consolidation at the 150.90 resistance has given way to break to further retrace the July/September losses. Daily studies remains positive and keeps pressure on the upside and see room for extension to strong resistance at the 151.90/152.00 congestion. Would expect reaction here as dialy studies pushed deep into overbought areas and caution corrective pullback. Meanwhile, support is raised to the 150.32/150.00 highs of last week which should underpin. Break here will open up room for deeper correction to the 149.00/148.85 area and the 148.00 level.