Published: 2026-08-07T01:00:26.000Z
Chart USD/JPY Update: Above 158.00 opens up room towards 159.00/45
1
Consolidation below 158.00 has given way to break to extend bounce from the 155.22 low to retrace sharp losses from the 164.00 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 160.50 | ** | congestion, Mar high | S1 | 158.00 | * | congestion | |
| R3 | 160.00 | * | congestion | S2 | 157.00 | * | congestion | |
| R2 | 159.45 | ** | Jan high | S3 | 156.00 | * | congestion | |
| R1 | 159.00 | * | congestion | S4 | 155.22/00 | ** | 3 Aug, May low |
Asterisk denotes strength of level
00:50 GMT - Consolidation below 158.00 has given way to break to extend bounce from the 155.22 low to retrace sharp losses from the 164.00 high. Break opens up room for stronger bounce to resistance at the 159.00 congestion then the 159.45 January high. Intraday and daily studies are unwinding oversold readings but corrective bounce is expected to give way to renewed selling pressure later. Meanwhile, support is raised to the 158.00/157.00 congestion area. Break here will return focus to the downside for retest of the 156.00 level then the 155.22/155.00 lows.