Published: 2026-10-12T12:48:13.000Z
Chart USD/JPY Update: Drifting higher in USD- and JPY-driven trade
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Cautious trade is giving way to a drift higher in both USD- and JPY-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 160.40 | ** | 2 Sep (m) high | S1 | 158.00 | ** | congestion | |
| R3 | 160.00 | ** | congestion | S2 | 157.00 | congestion | ||
| R2 | 159.75 | ** | intraday lows | S3 | 156.70 | * | 38.2% ret of Sep rally | |
| R1 | 159.00 | * | congestion | S4 | 155.95/00 | ** | 50% ret; congestion |
Asterisk denotes strength of level
13:35 BST - Cautious trade is giving way to a drift higher in both USD- and JPY-driven trade, with focus turning to congestion around 159.00. Rising intraday studies and a tick higher in daily readings highlights room for a test above here. Early-September gains will then focus on congestion up to 160.00. But mixed weekly charts should limit any initial tests in fresh consolidation.
Meanwhile, support is at congestion around 158.00. A close beneath here, if seen, will turn sentiment neutral and prompt consolidation/choppy trade above further congestion around 157.00.