Chart USD/JPY Update: Higher in consolidation
Extending bounce from the 153.00 level as prices consolidate sharp losses from above the 160.00 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 158.00 | ** | congestion | S1 | 154.00 | * | congestion | |
| R3 | 156.75/00 | * | 4 Sep high, congestion | S2 | 153.00 | * | congestion | |
| R2 | 156.00 | * | congestion | S3 | 152.10 | ** | 27 Jan YTD low | |
| R1 | 155.00/22 | ** | May, Aug lows | S4 | 152.00 | * | 50% 2025/2026 rally |
Asterisk denotes strength of level
01:00 GMT - Extending bounce from the 153.00 level as prices consolidate sharp losses from above the 160.00 high of last week and unwind oversold intraday studies. The daily studies turned mixed at oversold areas and suggest scope for bounce towards strong resistance at 155.00/22 May/August lows which is expected to cap. Above here, if seen, will open up room for stronger correction to resistance at 156.00 level and possibly 156.75/157.00 area. Corrective gains are expected to give way to fresh selling pressure later. Below the 153.00 level will turn focus to the June current year low at 152.10 and 152.00, 50% Fibonacci level.