Published: 2024-10-25T00:46:37.000Z
Chart USD/JPY Update: Lower in consolidation from 153.19 high
Technical Analyst
4
Settled back from the 153.19 mid-week high as prices consolidate bullish break of the 150.00 level earlier in the week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 155.22 | * | 30 Jul high | S1 | 151.00 | * | congestion | |
| R3 | 154.00 | * | congestion | S2 | 150.00 | ** | congestion | |
| R2 | 153.40 | * | 61.8% Jul/Sep fall | S3 | 149.40 | * | 15 Aug high | |
| R1 | 153.19 | * | 24 Oct high | S4 | 148.85 | * | 15 Oct low |
Asterisk denotes strength of level
00:40 GMT - Settled back from the 153.19 mid-week high as prices consolidate bullish break of the 150.00 level earlier in the week. Consolidation see prices unwinding the overbought intraday and daily studies and below the 152.00 level see room for deeper pullback to the 151.00 congestion. Would take break of the latter to fade the upside pressure and open up room for deeper correction to the 150.00 level and 149.40 support. Meanwhile, break above the 153.19/40 resistance will see further extension of gains from the September low and see scope to the 154.00 congestion.