Published: 2025-01-13T01:02:38.000Z
Chart USD/JPY Update: Choppy around the 158.00 level
Technical Analyst
2
Settling back from test of the 158.85 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 161.95 | ** | 2024 multi-year high | S1 | 157.23 | * | 10 Jan low | |
| R3 | 161.00 | * | figure | S2 | 156.75 | * | 15 Nov high | |
| R2 | 160.00/23 | ** | figure, Apr high | S3 | 156.00 | * | congestion | |
| R1 | 158.85 | * | 16 Jul high | S4 | 154.71 | * | 6 Nov high, congestion |
Asterisk denotes strength of level
01:00 GMT - Settling back from test of the 158.85 resistance as prices unwind overbought intraday studies. Further choppy trade around the 158.00 level seen for now with bearish divergence on daily studies suggesting scope for pullback from the 158.85 resistance. Below the 157.23 low and 157.00 level will open up room for retest of the strong support at the 156.75/156.00 area. Below this will open up room for deeper retracement of the strong run-up from the December low. Break above the 158.85 resistance, if seen, will see room to retest the 160.00/23 level and April high.