Published: 2024-11-04T01:04:20.000Z
Chart USD/JPY Update: Weighing on the 152.00 level, break in focus
Technical Analyst
2
Under pressure following rejection from the 153.40/154.00, Fibonacci level and congestion area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 156.00 | * | congestion | S1 | 152.00 | * | congestion | |
| R3 | 155.22 | * | 30 Jul high | S2 | 151.45 | * | 25 Oct low | |
| R2 | 153.88/00 | ** | 28 Oct high, congestion | S3 | 151.00 | * | congestion | |
| R1 | 153.19 | * | 23 Oct high | S4 | 150.00 | ** | figure, congestion |
Asterisk denotes strength of level
01:00 GMT - Under pressure following rejection from the 153.40/154.00, Fibonacci level and congestion area but no follow-through on break of the 152.00 as yet. However, daily studies have turned lower from deep overbought areas and highlights risk for break here to retrace the strong gains from the September low. Lower will see room to the lower support at 151.45 then the 151.00 level. Lower still, if seen, will open up deeper pullback to the 150.00 figure. Meanwhile, resistance at the 153.19 and 153.88 highs now expected to cap.