Published: 2024-12-11T00:48:04.000Z
Chart USD/JPY Update: Extending corrective bounce to reach 152.00
Technical Analyst
5
Break above the 151.28 resistance further extend gains from the 148.64 low to reach resistance at 152.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 154.71 | * | 7 Nov high | S1 | 151.28/00 | * | congestion | |
| R3 | 154.00 | * | congestion | S2 | 150.00 | * | congestion | |
| R2 | 153.28 | ** | 19 Nov low | S3 | 149.36 | * | 6 Dec low | |
| R1 | 152.00 | * | congestion | S4 | 148.64 | ** | 3 Dec low |
Asterisk denotes strength of level
00:45 GMT - Break above the 151.28 resistance further extend gains from the 148.64 low to reach resistance at 152.00. Clearance, if seen, will open up stronger bounce to the 153.00/28 resistance. However, gains are seen corrective with the resulting flag pattern expected to give way to renewed selling pressure later and below the 150.00 level will open up the 149.36 and 148.64 lows to retest. Break of these will see room to further extend losses and retrace September/November rally towards 148.15/00, 50% Fibonacci retracement and congestion area.